AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Short Interest Up 228.6% in August

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

Institutional Trading of AdvisorShares Psychedelics ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSIL. CIBC Private Wealth Group LLC lifted its holdings in shares of AdvisorShares Psychedelics ETF by 18.2% during the fourth 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. CIBC Bancorp USA Inc. bought a new stake in shares of AdvisorShares Psychedelics ETF in the third quarter valued at approximately $475,000. Finally, Vigilare Wealth Management acquired a new stake in shares of AdvisorShares Psychedelics ETF in the second quarter worth $212,000.

AdvisorShares Psychedelics ETF Trading Up 0.3%

Shares of AdvisorShares Psychedelics ETF stock traded up $0.07 during trading on Friday, reaching $24.77. The company’s stock had a trading volume of 23,866 shares, compared to its average volume of 34,443. The business’s fifty day moving average price is $24.60 and its 200-day moving average price is $21.08. AdvisorShares Psychedelics ETF has a one year low of $15.63 and a one year high of $27.02.

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.