Magnificent Seven ETF (NASDAQ:MAGS) Sees Strong Trading Volume – Here’s Why

Shares of The Magnificent Seven ETF (NASDAQ:MAGS) saw unusually-high trading volume on Monday . Approximately 364,768 shares traded hands during mid-day trading, a decline of 18% from the previous session’s volume of 443,677 shares.The stock last traded at $49.25 and had previously closed at $48.95.

Magnificent Seven ETF Stock Performance

The company’s 50-day moving average price is $46.00 and its two-hundred day moving average price is $43.94. The stock has a market cap of $807.70 million, a PE ratio of 119.88 and a beta of 1.55.

Hedge Funds Weigh In On Magnificent Seven ETF

A hedge fund recently bought a new stake in Magnificent Seven ETF stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of The Magnificent Seven ETF (NASDAQ:MAGS) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,392 shares of the company’s stock, valued at approximately $514,000. Ashton Thomas Private Wealth LLC owned about 0.08% of Magnificent Seven ETF at the end of the most recent reporting period. Institutional investors own 15.39% of the company’s stock.

About Magnificent Seven ETF

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.