Roundhill Cannabis ETF (BATS:WEED) Shares Down 2% – Here’s What Happened

Roundhill Cannabis ETF (BATS:WEED)’s stock price traded down 2% during trading on Friday . The stock traded as low as $16.30 and last traded at $16.40. 11,619 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 28,208 shares. The stock had previously closed at $16.73.

Roundhill Cannabis ETF Stock Performance

The business’s 50 day simple moving average is $18.63 and its two-hundred day simple moving average is $19.23.

Hedge Funds Weigh In On Roundhill Cannabis ETF

An institutional investor recently bought a new position in Roundhill Cannabis ETF stock. Nano Cap New Millennium Growth Fund L P acquired a new stake in Roundhill Cannabis ETF (BATS:WEED) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,500 shares of the company’s stock, valued at approximately $566,000. Nano Cap New Millennium Growth Fund L P owned 7.60% of Roundhill Cannabis ETF as of its most recent SEC filing.

Roundhill Cannabis ETF Company Profile

The Roundhill Cannabis ETF (WEED) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed portfolio of equities and total return swaps that provide exposure to the global cannabis and hemp ecosystem. WEED was launched on Apr 20, 2022 and is managed by Roundhill.