AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Short Interest Down 70.9% in July

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 61,826 shares, a decline of 70.9% from the June 30th total of 212,654 shares. Based on an average daily trading volume, of 41,886 shares, the short-interest ratio is presently 1.5 days. Approximately 3.0% of the company’s shares are short sold.

AdvisorShares Psychedelics ETF Trading Up 0.6%

Shares of PSIL traded up $0.15 during mid-day trading on Monday, reaching $23.69. 15,438 shares of the company’s stock traded hands, compared to its average volume of 33,549. The stock’s 50-day moving average is $21.94 and its two-hundred day moving average is $19.20. AdvisorShares Psychedelics ETF has a 12 month low of $15.36 and a 12 month high of $25.42.

Hedge Funds Weigh In On AdvisorShares Psychedelics ETF

Several hedge funds have recently bought and sold shares of PSIL. Vigilare Wealth Management purchased a new stake in AdvisorShares Psychedelics ETF in the second quarter worth $212,000. CIBC Bancorp USA Inc. purchased a new stake in shares of AdvisorShares Psychedelics ETF during the third quarter valued at $475,000. Finally, CIBC Private Wealth Group LLC grew its holdings 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 worth $475,000 after purchasing an additional 12,145 shares during the last quarter.

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.