AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Shares Up 4.4% – Here’s Why

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) shot up 4.4% on Thursday . The stock traded as high as $23.00 and last traded at $22.67. 56,502 shares were traded during trading, an increase of 93% from the average daily volume of 29,218 shares. The stock had previously closed at $21.72.

AdvisorShares Psychedelics ETF Trading Up 4.4%

The company has a fifty day moving average price of $20.24 and a 200-day moving average price of $18.35.

Institutional Investors Weigh In On AdvisorShares Psychedelics ETF

A hedge fund recently raised its position in AdvisorShares Psychedelics ETF stock. CIBC Private Wealth Group LLC raised its holdings in shares of AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) by 18.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,566 shares of the company’s stock after purchasing an additional 4,547 shares during the quarter. CIBC Private Wealth Group LLC owned 2.51% of AdvisorShares Psychedelics ETF worth $508,000 as of its most recent filing with the Securities & Exchange Commission.

About AdvisorShares Psychedelics ETF

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.