AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Short Interest Up 228.6% in August

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 122,409 shares, an increase of 228.6% from the August 15th total of 37,249 shares. Approximately 5.9% of the company’s stock are sold short. Based on an average daily volume of 62,389 shares, the short-interest ratio is currently 2.0 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vigilare Wealth Management bought a new stake in AdvisorShares Psychedelics ETF during the second quarter worth about $212,000. CIBC Bancorp USA Inc. bought a new position in shares of AdvisorShares Psychedelics ETF during the third quarter valued at approximately $475,000. Finally, CIBC Private Wealth Group LLC increased its stake in shares of AdvisorShares Psychedelics ETF by 94.3% during the third quarter. CIBC Private Wealth Group LLC now owns 25,019 shares of the company’s stock valued at $475,000 after purchasing an additional 12,145 shares in the last quarter.

AdvisorShares Psychedelics ETF Price Performance

PSIL traded up $0.07 during trading on Friday, reaching $24.77. The stock had a trading volume of 23,866 shares, compared to its average volume of 34,443. The stock’s 50 day moving average is $24.60 and its two-hundred day moving average is $21.08. AdvisorShares Psychedelics ETF has a one year low of $15.63 and a one year high of $27.02.

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.