Magnificent Seven ETF (NASDAQ:MAGS) Sets New 52-Week High – Should You Buy?

The Magnificent Seven ETF (NASDAQ:MAGS) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $49.98 and last traded at $49.65, with a volume of 573477 shares changing hands. The stock had previously closed at $48.46.

Magnificent Seven ETF Stock Performance

The company has a market capitalization of $874.63 million, a P/E ratio of 118.20 and a beta of 1.55. The company has a 50-day simple moving average of $46.45 and a 200 day simple moving average of $44.43.

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 position in The Magnificent Seven ETF (NASDAQ:MAGS) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm 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. 15.39% of the stock is owned by hedge funds and other institutional investors.

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.