AdvisorShares Psychedelics ETF (NYSEARCA:PSIL – Get Free Report) was the target of a significant drop in short interest in August. As of August 14th, there was short interest totaling 37,249 shares, a drop of 57.1% from the July 30th total of 86,811 shares. Based on an average daily volume of 23,049 shares, the short-interest ratio is currently 1.6 days. Approximately 1.8% of the company’s stock are sold short.
Institutional Investors Weigh In On AdvisorShares Psychedelics ETF
A number of institutional investors have recently modified their holdings of PSIL. CIBC Bancorp USA Inc. purchased a new position in shares of AdvisorShares Psychedelics ETF in the 3rd quarter worth about $475,000. CIBC Private Wealth Group LLC raised its holdings in AdvisorShares Psychedelics ETF by 94.3% in the third quarter. CIBC Private Wealth Group LLC now owns 25,019 shares of the company’s stock worth $475,000 after buying an additional 12,145 shares during the last quarter. Finally, Vigilare Wealth Management purchased a new position in AdvisorShares Psychedelics ETF in the second quarter worth about $212,000.
AdvisorShares Psychedelics ETF Price Performance
Shares of PSIL opened at $25.25 on Monday. The business’s 50 day moving average price is $24.22 and its 200-day moving average price is $20.54. AdvisorShares Psychedelics ETF has a 52 week low of $15.63 and a 52 week 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.
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