AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Short Interest Down 57.1% in August

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 37,249 shares, a drop of 57.1% from the July 30th total of 86,811 shares. Based on an average daily volume of 23,049 shares, the short-interest ratio is currently 1.6 days. Approximately 1.8% of the company’s shares are short sold.

Institutional Trading of AdvisorShares Psychedelics ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vigilare Wealth Management purchased a new position in shares of AdvisorShares Psychedelics ETF in the second quarter valued at approximately $212,000. CIBC Bancorp USA Inc. purchased a new stake in shares of AdvisorShares Psychedelics ETF during the third quarter worth $475,000. Finally, CIBC Private Wealth Group LLC raised its stake 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 acquiring an additional 12,145 shares in the last quarter.

AdvisorShares Psychedelics ETF Stock Down 2.4%

NYSEARCA:PSIL traded down $0.63 during trading hours on Friday, reaching $25.25. 27,081 shares of the stock were exchanged, compared to its average volume of 34,162. AdvisorShares Psychedelics ETF has a twelve month low of $15.63 and a twelve month high of $27.02. The business has a 50-day moving average of $24.22 and a two-hundred day moving average of $20.51.

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.