AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Sees Large Increase in Short Interest

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 79,632 shares, an increase of 112.5% from the September 30th total of 37,469 shares. Based on an average trading volume of 22,486 shares, the short-interest ratio is presently 3.5 days. Currently, 3.7% of the company’s shares are short sold.

Institutional Trading of AdvisorShares Psychedelics ETF

A hedge fund recently raised its position in AdvisorShares Psychedelics ETF stock. Farther Finance Advisors LLC lifted its stake in shares of AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) by 7,613.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,317 shares of the company’s stock after buying an additional 57,561 shares during the quarter. Farther Finance Advisors LLC owned approximately 2.57% of AdvisorShares Psychedelics ETF worth $1,312,000 at the end of the most recent reporting period.

AdvisorShares Psychedelics ETF Trading Down 2.8%

NYSEARCA PSIL traded down $0.60 on Friday, reaching $21.00. 11,971 shares of the stock traded hands, compared to its average volume of 32,718. AdvisorShares Psychedelics ETF has a 12 month low of $15.63 and a 12 month high of $27.02. The company has a fifty day moving average price of $23.09 and a 200-day moving average price of $20.71.

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.