Roundhill Cannabis ETF (BATS:WEED) Trading Down 2% – Should You Sell?

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

Roundhill Cannabis ETF Stock Down 2.0%

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

Institutional Inflows and Outflows

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 disclosure with the Securities and Exchange Commission (SEC). The fund acquired 28,500 shares of the company’s stock, valued at approximately $566,000. Nano Cap New Millennium Growth Fund L P owned approximately 7.60% of Roundhill Cannabis ETF at the end of the most recent quarter.

About Roundhill Cannabis ETF

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.