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What's Going On With Roundhill Cannabis ETF Today

Author: Anusuya Lahiri | May 01, 2023 12:41pm

Listed Funds Trust Roundhill Cannabis ETF (BATS: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.

Posted In: WEED