AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Sees Significant Drop in Short Interest

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 61,905 shares, a decline of 42.5% from the May 31st total of 107,659 shares. Based on an average daily volume of 32,605 shares, the days-to-cover ratio is currently 1.9 days. Currently, 3.8% of the shares of the stock are sold short.

Hedge Funds Weigh In On AdvisorShares Psychedelics ETF

An institutional investor recently bought a new position in AdvisorShares Psychedelics ETF stock. CIBC Bancorp USA Inc. bought a new stake in AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 25,019 shares of the company’s stock, valued at approximately $475,000. CIBC Bancorp USA Inc. owned 2.50% of AdvisorShares Psychedelics ETF as of its most recent SEC filing.

AdvisorShares Psychedelics ETF Stock Performance

PSIL traded up $0.49 on Thursday, reaching $23.23. 27,679 shares of the company’s stock were exchanged, compared to its average volume of 30,421. AdvisorShares Psychedelics ETF has a twelve month low of $14.37 and a twelve month high of $25.19. The stock’s fifty day moving average price is $20.68 and its 200-day moving average price is $18.49.

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.