AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Short Interest Down 42.5% in June

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totaling 61,905 shares, a decrease of 42.5% from the May 31st total of 107,659 shares. Approximately 3.8% of the shares of the company are sold short. Based on an average daily volume of 32,605 shares, the short-interest ratio is currently 1.9 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AdvisorShares Psychedelics ETF stock. CIBC Private Wealth Group LLC increased its position in AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) by 18.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,566 shares of the company’s stock after acquiring an additional 4,547 shares during the quarter. CIBC Private Wealth Group LLC owned about 2.51% of AdvisorShares Psychedelics ETF worth $508,000 at the end of the most recent quarter.

AdvisorShares Psychedelics ETF Stock Performance

PSIL traded down $1.31 during midday trading on Wednesday, reaching $22.74. The company had a trading volume of 45,492 shares, compared to its average volume of 30,443. The business has a 50-day moving average of $20.58 and a two-hundred day moving average of $18.44. AdvisorShares Psychedelics ETF has a 1 year low of $14.28 and a 1 year high of $25.19.

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.