Short Interest in AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Decreases By 42.5%

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) was the target of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 61,905 shares, a decrease of 42.5% from the May 31st total of 107,659 shares. Approximately 3.8% of the company’s shares are sold short. Based on an average daily trading volume, of 32,605 shares, the short-interest ratio is presently 1.9 days.

Hedge Funds Weigh In On AdvisorShares Psychedelics ETF

A hedge fund recently raised its stake in AdvisorShares Psychedelics ETF stock. CIBC Private Wealth Group LLC raised its position in AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,566 shares of the company’s stock after acquiring an additional 4,547 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 2.51% of AdvisorShares Psychedelics ETF worth $508,000 at the end of the most recent quarter.

AdvisorShares Psychedelics ETF Stock Performance

Shares of NYSEARCA:PSIL traded down $1.31 during midday trading on Wednesday, hitting $22.74. 45,492 shares of the stock traded hands, compared to its average volume of 30,443. AdvisorShares Psychedelics ETF has a one year low of $14.28 and a one year high of $25.19. The business’s 50 day moving average is $20.58 and its two-hundred day moving average is $18.44.

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.