POTX - AdvisorShares launches a thematic psychedelic ETF

AdvisorShares launched the AdvisorShares Psychedelic ETF (NYSEARCA:PSIL) on Thursday, aiming to take advantage of the emerging psychedelic drug industry. The thematic fund will expose market participants to unique biotechnology, pharmaceutical, and life sciences businesses that look to capture a piece of the promising and therapeutic potential treatments involved in psychedelic drugs.  In dissecting PSIL, investors will note that the fund is constructed of small-cap exposure representing 72.4% of the ETF and over 58% allocated towards Canadian firms. U.S. exposure only represents 7.2% of PSIL. Moreover, PSIL comes forward with an expense ratio of 0.68% and trades on the New York Stock Exchange. Per PR Newswire, Dan Ahrens, chief operating officer of AdvisorShares and portfolio manager of PSIL, stated: "We believe that by investing in select companies in the psychedelics space can provide a compelling long-term investment opportunity, however, this is also an area of the marketplace in its early innings."  Ahrens

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AdvisorShares launches a thematic psychedelic ETF