AdvisorShares Psychedelics ETF (NYSEARCA:PSIL – Get Free Report) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 212,654 shares, a growth of 243.5% from the June 15th total of 61,905 shares. Currently, 11.3% of the shares of the stock are short sold. Based on an average trading volume of 43,402 shares, the days-to-cover ratio is presently 4.9 days.
Hedge Funds Weigh In On AdvisorShares Psychedelics ETF
A number of large investors have recently added to or reduced their stakes in PSIL. CIBC Private Wealth Group LLC lifted its stake in 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 purchasing an additional 4,547 shares during the last quarter. Vigilare Wealth Management purchased a new stake in AdvisorShares Psychedelics ETF during the second quarter valued at about $212,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of AdvisorShares Psychedelics ETF during the third quarter valued at about $475,000.
AdvisorShares Psychedelics ETF Stock Performance
Shares of PSIL opened at $23.71 on Monday. AdvisorShares Psychedelics ETF has a fifty-two week low of $14.60 and a fifty-two week high of $25.19. The firm has a 50 day moving average price of $21.12 and a 200-day moving average price of $18.69.
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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