AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Sees Significant Growth in Short Interest

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 122,409 shares, an increase of 228.6% from the August 15th total of 37,249 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average daily volume of 62,389 shares, the short-interest ratio is presently 2.0 days.

Institutional Trading of AdvisorShares Psychedelics ETF

Hedge funds have recently made changes to their positions in the stock. Vigilare Wealth Management bought a new stake in AdvisorShares Psychedelics ETF during the second quarter worth about $212,000. CIBC Private Wealth Group LLC lifted its position in AdvisorShares Psychedelics ETF by 18.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 29,566 shares of the company’s stock worth $508,000 after buying an additional 4,547 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in AdvisorShares Psychedelics ETF in the third quarter worth approximately $475,000.

AdvisorShares Psychedelics ETF Trading Up 2.6%

PSIL traded up $0.66 on Monday, reaching $25.43. The company had a trading volume of 28,989 shares, compared to its average volume of 34,404. AdvisorShares Psychedelics ETF has a 52-week low of $15.63 and a 52-week high of $27.02. The business has a 50 day simple moving average of $24.60 and a 200 day simple moving average of $21.11.

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.