AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) Stock Short Interest Drops 53.5%

AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 56,901 shares, a decline of 53.5% from the August 31st total of 122,409 shares. Based on an average daily volume of 35,542 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On AdvisorShares Psychedelics ETF

An institutional investor recently bought a new stake in AdvisorShares Psychedelics ETF stock. Vigilare Wealth Management purchased a new position in shares of AdvisorShares Psychedelics ETF (NYSEARCA:PSIL) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,800 shares of the company’s stock, valued at approximately $212,000. Vigilare Wealth Management owned about 0.47% of AdvisorShares Psychedelics ETF at the end of the most recent quarter.

AdvisorShares Psychedelics ETF Stock Down 1.7%

NYSEARCA PSIL traded down $0.40 during mid-day trading on Wednesday, hitting $22.50. The stock had a trading volume of 22,595 shares, compared to its average volume of 34,457. The firm’s 50 day moving average is $24.72 and its 200 day moving average is $21.70. AdvisorShares Psychedelics ETF has a twelve month low of $15.63 and a twelve month high of $27.02.

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.