MEME - Roundhill Investments announces a 1-for-5 reverse split on WEED and MEME

2023-04-17 12:40:47 ET

Roundhill Investments revealed that it will implement a reverse split on shares of the Roundhill Cannabis ETF ( BATS: WEED ) and the Roundhill MEME ETF ( NYSEARCA: MEME ).

“The total market value of the shares outstanding will not be affected because of this split, except with respect to the redemption of fractional shares,” Roundhill Investments stated .

The organization added: “The fund will redeem for cash a shareholder's fractional shares at the fund's split-adjusted NAV after the close of the markets on April 28, 2023.”

The reverse split ratio for both WEED and MEME will be a 1 for 5. That means that every five shares of the exchange traded funds will be replaced for one share. The reverse split will go into effect after the close on April 28,2023.

From a performance vantage point, in 2023, WEED, with its 39 holdings, is -26.2% .

At the same time shares of MEME, which has 25 holdings and aims to offer access to companies that exhibit a combination of elevated social media activity and high short interest, is +30.6% year-to-date.

In other Roundhill Investments related news, the issuer has recently launched a new condensed fund that focuses on the largest most liquid banks on Wall Street.

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