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

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 79,118 shares, an increase of 312.9% from the April 15th total of 19,163 shares. Approximately 4.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 104,102 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

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

AdvisorShares Psychedelics ETF Stock Performance

Shares of NYSEARCA PSIL traded up $0.62 during trading on Wednesday, reaching $20.55. The company had a trading volume of 29,346 shares, compared to its average volume of 28,777. AdvisorShares Psychedelics ETF has a twelve month low of $11.52 and a twelve month high of $22.49. The stock has a 50-day moving average price of $18.00 and a two-hundred day moving average price of $17.92.

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.