AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Trading Up 2.2% – Still a Buy?

Shares of AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) were up 2.2% during mid-day trading on Monday . The stock traded as high as $25.88 and last traded at $25.83. Approximately 26,729 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 32,517 shares. The stock had previously closed at $25.27.

AdvisorShares Psychedelics ETF Price Performance

The firm has a 50-day moving average price of $23.21 and a two-hundred day moving average price of $20.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vigilare Wealth Management acquired a new stake in AdvisorShares Psychedelics ETF during the 2nd quarter worth $212,000. CIBC Bancorp USA Inc. acquired a new stake in shares of AdvisorShares Psychedelics ETF in the third quarter valued at about $475,000. Finally, CIBC Private Wealth Group LLC raised its position in shares of AdvisorShares Psychedelics ETF by 94.3% in the third quarter. CIBC Private Wealth Group LLC now owns 25,019 shares of the company’s stock valued at $475,000 after buying an additional 12,145 shares during the last quarter.

AdvisorShares Psychedelics ETF Company Profile

The AdvisorShares Psychedelics ETF (PSIL) is an exchange-traded fund that mostly invests in health care equity. The fund is actively managed to provide exposure to the emerging global psychedelics industry. PSIL was launched on Sep 15, 2021 and is managed by AdvisorShares.