What's Going On With Roundhill Cannabis ETF Today

by Anusuya Lahiri, Benzinga Editor
May 1, 2023 12:41 PM | 1 min read |
  • Listed Funds Trust Roundhill Cannabis ETF WEED is trading higher Monday in sympathy with reintroducing a marijuana banking bill last week.
  • Last week A group of bipartisan lawmakers reintroduced a marijuana banking bill enabling financial institutions to provide financial services to legal cannabis businesses. The move triggered a rally in cannabis stocks last week.
  • Analysts touted the reintroduction as a positive move.
  • The ETF has a 93% exposure to the U.S. treasury bills.
  • However, last week was a negative session for U.S. Treasuries, with yields surging across all maturities of the yield curve.
  • A rising yield implies falling demand for Treasury bonds.
  • The recent economic statistics indicated a slowing real gross output and persistent price pressures heightened investor concerns about stagflation. Looking at the past three weeks of data, investors preferred allocating their funds to ETFs investing in longer-term Treasuries.  
  • Price Action: WEEDS shares traded higher by 3.91% at $22.62 on the last check Monday.
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