AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Sees Large Decline in Short Interest

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 56,901 shares, a decline of 53.5% from the August 31st total of 122,409 shares. Based on an average trading volume of 35,542 shares, the days-to-cover ratio is presently 1.6 days. Currently, 2.5% of the shares of the company are sold short.

AdvisorShares Psychedelics ETF Price Performance

Shares of AdvisorShares Psychedelics ETF stock traded down $0.16 during trading hours on Monday, reaching $23.04. The company had a trading volume of 23,321 shares, compared to its average volume of 34,178. AdvisorShares Psychedelics ETF has a one year low of $15.63 and a one year high of $27.02. The business has a fifty day simple moving average of $24.77 and a 200 day simple moving average of $21.62.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in AdvisorShares Psychedelics ETF stock. Vigilare Wealth Management bought a new stake in shares of AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,800 shares of the company’s stock, valued at approximately $212,000. Vigilare Wealth Management owned approximately 0.47% of AdvisorShares Psychedelics ETF as of its most recent SEC filing.

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.