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

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

Hedge Funds Weigh In On AdvisorShares Psychedelics ETF

A hedge fund recently bought a new position in AdvisorShares Psychedelics ETF stock. Vigilare Wealth Management purchased a new stake in shares of AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,800 shares of the company’s stock, valued at approximately $212,000. Vigilare Wealth Management owned approximately 0.47% of AdvisorShares Psychedelics ETF at the end of the most recent quarter.

AdvisorShares Psychedelics ETF Trading Down 0.7%

PSIL traded down $0.16 during trading hours on Monday, hitting $23.04. The stock had a trading volume of 23,321 shares, compared to its average volume of 34,178. AdvisorShares Psychedelics ETF has a 1 year low of $15.63 and a 1 year high of $27.02. The company’s fifty day simple moving average is $24.77 and its 200 day simple moving average is $21.62.

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.