Short Interest in AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Increases By 312.9%

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) was the recipient of a large growth in short interest during the month of April. As of April 30th, there was short interest totaling 79,118 shares, a growth of 312.9% from the April 15th total of 19,163 shares. Approximately 4.8% of the shares of the stock are sold short. Based on an average daily volume of 104,102 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On AdvisorShares Psychedelics ETF

A hedge fund recently bought a new stake in AdvisorShares Psychedelics ETF stock. CIBC Bancorp USA Inc. bought a new stake in shares of AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

AdvisorShares Psychedelics ETF Price Performance

Shares of AdvisorShares Psychedelics ETF stock traded down $0.21 during trading on Thursday, hitting $20.37. 11,591 shares of the stock traded hands, compared to its average volume of 28,706. The firm’s fifty day moving average is $18.14 and its 200-day moving average is $17.93. AdvisorShares Psychedelics ETF has a 52 week low of $11.52 and a 52 week high of $22.49.

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.