Magnificent Seven ETF (NASDAQ:MAGS) Sees Strong Trading Volume

The Magnificent Seven ETF (NASDAQ:MAGS) saw strong trading volume on Wednesday . 166,011 shares traded hands during mid-day trading, a decline of 58% from the previous session’s volume of 397,876 shares.The stock last traded at $43.14 and had previously closed at $43.15.

Magnificent Seven ETF Stock Performance

The stock has a market cap of $656.31 million, a P/E ratio of 106.88 and a beta of 1.55. The business has a 50 day simple moving average of $45.16 and a 200-day simple moving average of $41.85.

Hedge Funds Weigh In On Magnificent Seven ETF

An institutional investor recently bought a new position in Magnificent Seven ETF stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of The Magnificent Seven ETF (NASDAQ:MAGS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,392 shares of the company’s stock, valued at approximately $514,000. Ashton Thomas Private Wealth LLC owned 0.08% of Magnificent Seven ETF as of its most recent SEC filing. Hedge funds and other institutional investors own 15.39% of the company’s stock.

Magnificent Seven ETF Company Profile

The Roundhill Magnificent Seven ETF (MAGS) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that offers highly concentrated exposure to the largest and most liquid leading technology stocks. The fund invests primarily through swaps and forwards.