Roundhill Daily 2X Long Magnificent Seven ETF (NASDAQ:MAGX) Sees Large Increase in Short Interest

Roundhill Daily 2X Long Magnificent Seven ETF (NASDAQ:MAGX) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 37,300 shares, a growth of 2,386.7% from the October 15th total of 1,500 shares. Based on an average daily trading volume, of 49,900 shares, the days-to-cover ratio is presently 0.7 days.

Roundhill Daily 2X Long Magnificent Seven ETF Price Performance

Shares of MAGX stock traded down $0.50 on Thursday, hitting $42.31. The stock had a trading volume of 19,988 shares, compared to its average volume of 39,503. Roundhill Daily 2X Long Magnificent Seven ETF has a 1 year low of $22.58 and a 1 year high of $43.75. The company’s 50 day moving average price is $36.01 and its 200-day moving average price is $33.44.

About Roundhill Daily 2X Long Magnificent Seven ETF

The Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund-of-funds aiming to achieve 2x the return, for a single day, of the Roundhill Magnificent Seven ETF (MAGS) through derivative instruments such as swaps.