If you’re not entirely sure what an ETF is, then you’re invited to peruse In the interim, though, the PSIL ETF invests in the emerging psychedelics sector, giving exposure to sixteen biotech, pharma, and life sciences companies in this nascent industry.
“We are pleased to be included in the inaugural launch of the PSIL ETF as it provides further validation of our pharmaceutical psychedelics strategy in pursuing novel uses, formulations and delivery forms of psilocybin for the treatment of mental health and neurological conditions,” said Michael Frank, CEO of the Company.
Here’s what Equity Guru’s own Maddy Grace’s had to say about what ETFs are and what they do:
“What is an ETF?
An exchange-traded fund (ETF) is an investment fund that holds a collection of investments, such as stocks or bonds owned by a group of investors and managed by a professional money manager. If you’ve been with me on this “let’s learn how to be responsible with money” journey for a while now, you probably recognize this term. However, I found myself confused when trying to explain an ETF to my sister last week so figured, it was time for a refresher.
ETFs trade on a stock exchange and can be sold short or margined (these are confusing terms that basically mean ETFs operate like any old stock). You can also trade in futures and options on ETFs.
ETFs and mutual funds both offer similar options to spread out risk using diversification – but they’re built, bought and sold differently.”
The ETF started trading on September 16, making its first appearance on the New York Stock Exchange. Their top ten holdings include MindMed (MMED.E), Compass Pathways (CMPS.Q), atai Life Sciences (ATAI.Q), Cybin (CYBN.E), Field Trip (FTRP.T), Numinus (NUMI.V) and more.
Here’s a helpful youtube clip.