AdvisorShares Psychedelics ETF (NYSEARCA:PSIL – Get Free Report) was the recipient of a large 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. Currently, 5.9% of the shares of the company are sold short. Based on an average daily volume of 62,389 shares, the days-to-cover ratio is presently 2.0 days.
AdvisorShares Psychedelics ETF Price Performance
AdvisorShares Psychedelics ETF stock traded up $0.07 during mid-day trading on Friday, reaching $24.77. The company had a trading volume of 23,866 shares, compared to its average volume of 34,443. The company has a 50 day moving average of $24.60 and a 200-day moving average of $21.08. AdvisorShares Psychedelics ETF has a 52 week low of $15.63 and a 52 week high of $27.02.
Institutional Investors Weigh In On AdvisorShares Psychedelics ETF
Hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC grew its position in 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 in the last quarter. CIBC Bancorp USA Inc. bought a new position in AdvisorShares Psychedelics ETF during the third quarter valued at about $475,000. Finally, Vigilare Wealth Management bought a new position in AdvisorShares Psychedelics ETF during 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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