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

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

Institutional Investors Weigh In On AdvisorShares Psychedelics ETF

A number of large investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. bought a new position in shares of AdvisorShares Psychedelics ETF during the third quarter valued at $475,000. CIBC Private Wealth Group LLC boosted its holdings in shares of AdvisorShares Psychedelics ETF by 94.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 25,019 shares of the company’s stock worth $475,000 after buying an additional 12,145 shares in the last quarter. Finally, Vigilare Wealth Management bought a new position in shares of AdvisorShares Psychedelics ETF during the 2nd quarter worth approximately $212,000.

AdvisorShares Psychedelics ETF Trading Down 2.4%

Shares of PSIL stock traded down $0.63 on Friday, hitting $25.25. The company’s stock had a trading volume of 27,081 shares, compared to its average volume of 34,162. The stock’s 50 day moving average is $24.22 and its 200-day moving average is $20.51. AdvisorShares Psychedelics ETF has a fifty-two week low of $15.63 and a fifty-two week 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.