Magnificent Seven ETF (NASDAQ:MAGS) Sets New 1-Year High – Should You Buy?

The Magnificent Seven ETF (NASDAQ:MAGS) hit a new 52-week high on Wednesday . The company traded as high as $49.98 and last traded at $49.55, with a volume of 259338 shares. The stock had previously closed at $49.34.

Magnificent Seven ETF Stock Performance

The company has a fifty day moving average of $46.27 and a two-hundred day moving average of $44.13. The firm has a market capitalization of $822.96 million, a price-to-earnings ratio of 115.76 and a beta of 1.55.

Institutional Investors Weigh In On Magnificent Seven ETF

An institutional investor recently bought a new position in Magnificent Seven ETF stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of The Magnificent Seven ETF (NASDAQ:MAGS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 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 filing with the Securities and Exchange Commission (SEC). 15.39% of the stock is currently owned by institutional investors and hedge funds.

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.