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AdvisorShares has announced a 1-for-10 reverse split of the AdvisorShares Psychedelics ETF (PSIL), effective September 10, 2024. This will result in an approximate 90% decrease in outstanding shares. The split will not change the total value of shareholders' investments, but will increase the per-share NAV and market price by about ten times. The Fund's CUSIP will change from 00768Y362 to 00768Y297. Fractional shares will be redeemed for cash at the split-adjusted NAV. The reverse split may result in capital gains or losses for shareholders. AdvisorShares will provide a one-time opportunity for an authorized participant to redeem any resulting odd lot unit.
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