BETHESDA, Md., Aug. 30, 2024 /PRNewswire/ -- AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), has announced a reverse split of the issued and outstanding shares of the AdvisorShares Psychedelics ETF. The split will not change the total value of a shareholder's investment.
Effective before market open on September 10, 2024, the Fund will affect a reverse split of its issued and outstanding shares as follows:
Fund Name
Reverse Split Ratio
Approximate decrease in total number of outstanding shares
AdvisorShares Psychedelics ETF
1 for 10
90 %
Please note the CUSIP changes, effective September 10, 2024:
Fund Name
Ticker
Current CUSIP
New CUSIP
AdvisorShares Psychedelics ETF
PSIL
00768Y362
00768Y297
As a result of this reverse split, every ten shares of the Fund will be exchanged for one share as indicated above. Accordingly, the total number of the issued and outstanding shares for the Fund will decrease by the approximate percentage indicated above. In addition, the per share net asset value (NAV) and next day's opening market price will be approximately ten times higher for the Fund. Shares of the Fund will begin trading on the NYSE Arca on a split-adjusted basis on
