AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Short Interest Down 70.9% in July

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) saw a large decline in short interest during the month of 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. Approximately 3.0% of the company’s shares are sold short. Based on an average trading volume of 41,886 shares, the short-interest ratio is currently 1.5 days.

Institutional Trading of AdvisorShares Psychedelics ETF

Hedge funds have recently added to or reduced their stakes in the business. Vigilare Wealth Management acquired a new position in shares of AdvisorShares Psychedelics ETF during the 2nd quarter valued at about $212,000. CIBC Private Wealth Group LLC boosted its position in shares of AdvisorShares Psychedelics ETF by 18.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 29,566 shares of the company’s stock worth $508,000 after acquiring an additional 4,547 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in AdvisorShares Psychedelics ETF in the third quarter valued at approximately $475,000.

AdvisorShares Psychedelics ETF Trading Down 2.4%

Shares of AdvisorShares Psychedelics ETF stock traded down $0.56 during trading hours on Tuesday, reaching $23.13. 20,398 shares of the company’s stock were exchanged, compared to its average volume of 33,454. AdvisorShares Psychedelics ETF has a 52-week low of $15.36 and a 52-week high of $25.42. The company has a fifty day moving average of $21.94 and a 200-day moving average of $19.20.

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.