AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Sees Large Decrease in Short Interest

AdvisorShares Psychedelics ETF (NYSEARCA:PSILGet Free Report) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 61,826 shares, a decrease of 70.9% from the June 30th total of 212,654 shares. Based on an average daily volume of 41,886 shares, the short-interest ratio is currently 1.5 days. Currently, 3.0% of the company’s stock are short sold.

Institutional Trading of AdvisorShares Psychedelics ETF

Large investors have recently bought and sold shares of the company. Vigilare Wealth Management purchased a new stake in shares of AdvisorShares Psychedelics ETF during the second quarter valued at approximately $212,000. CIBC Private Wealth Group LLC boosted its stake in shares of AdvisorShares Psychedelics ETF by 18.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 29,566 shares of the company’s stock valued at $508,000 after purchasing an additional 4,547 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new stake in AdvisorShares Psychedelics ETF during the 3rd quarter valued at $475,000.

AdvisorShares Psychedelics ETF Stock Performance

Shares of PSIL opened at $23.54 on Friday. AdvisorShares Psychedelics ETF has a 12 month low of $15.36 and a 12 month high of $25.42. The stock’s 50-day moving average is $21.86 and its two-hundred day moving average is $19.14.

About AdvisorShares Psychedelics ETF

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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.

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