AdvisorShares Psychedelics ETF (NYSEARCA:PSIL – Get Free Report) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totaling 61,826 shares, a decline of 70.9% from the June 30th total of 212,654 shares. Based on an average trading volume of 41,886 shares, the days-to-cover ratio is presently 1.5 days. Currently, 3.0% of the company’s stock are sold short.
AdvisorShares Psychedelics ETF Stock Performance
PSIL stock opened at $23.54 on Friday. The stock’s 50 day moving average is $21.86 and its two-hundred day moving average is $19.14. AdvisorShares Psychedelics ETF has a 52-week low of $15.36 and a 52-week high of $25.42.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC increased its position in shares of 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 purchasing an additional 4,547 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of AdvisorShares Psychedelics ETF during the third quarter worth about $475,000. Finally, Vigilare Wealth Management bought a new stake in AdvisorShares Psychedelics ETF in the second quarter valued at about $212,000.
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.
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