AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Short Interest Up 243.5% in June

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totaling 212,654 shares, an increase of 243.5% from the June 15th total of 61,905 shares. Currently, 11.3% of the company’s stock are short sold. Based on an average trading volume of 43,402 shares, the days-to-cover ratio is currently 4.9 days.

Institutional Inflows and Outflows

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

AdvisorShares Psychedelics ETF Price Performance

Shares of NYSEARCA:PSIL traded up $0.50 during trading on Tuesday, reaching $23.73. 26,950 shares of the stock were exchanged, compared to its average volume of 31,152. AdvisorShares Psychedelics ETF has a 1-year low of $14.60 and a 1-year high of $25.19. The stock has a fifty day moving average of $21.18 and a two-hundred day moving average of $18.73.

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.