Welcome to our dedicated page for Roundhill Cannabis ETF news (Ticker: WEED), a resource for investors and traders seeking the latest updates and insights on Roundhill Cannabis ETF stock.
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Roundhill Investments announced a reverse split for its Roundhill Cannabis ETF (WEED) and Roundhill MEME ETF (MEME) on April 28, 2023. The reverse split will be executed in a 1-for-5 ratio, meaning every five shares will convert into one. Despite the increase in per share value, the total market value of the funds will remain unchanged, with adjustments made for fractional shares. The new trading prices and adjusted shares will take effect on May 1, 2023.
Following the split, shareholders may receive cash for any held fractional shares, which may have tax implications. CUSIP changes for both ETFs will also occur, with the Roundhill Cannabis ETF and Roundhill MEME ETF changing to new identifiers on May 1, 2023.
The Roundhill Cannabis ETF (CBOE BZX: WEED) has shifted its strategy to focus exclusively on Tier 1 multi-state operators (MSOs) in the U.S., which generate over $500 million in annual revenue. This change aims to enhance the fund's resilience amidst high interest rates and inflation. Additionally, the ETF's net expense ratio has been reduced to 0.39%, the lowest among cannabis ETFs, continuing until at least April 30, 2023. Currently, the ETF has significant allocations in companies like Curaleaf and Green Thumb Industries.
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