The Magnificent Seven ETF (NASDAQ:MAGS) Sees Large Decline in Short Interest

Posted by Jessica Moore on Jan 15th, 2025

The Magnificent Seven ETF (NASDAQ:MAGS – Get Free Report) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 887,500 shares, a decrease of 24.8% from the December 15th total of 1,180,000 shares. Based on an average daily trading volume, of 1,506,400 shares, the days-to-cover ratio is presently 0.6 days.

Magnificent Seven ETF Stock Performance

Shares of NASDAQ MAGS traded up $1.94 during mid-day trading on Wednesday, reaching $55.51. 2,989,727 shares of the company’s stock were exchanged, compared to its average volume of 2,462,041. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 135.39 and a beta of 1.55. Magnificent Seven ETF has a 52-week low of $33.02 and a 52-week high of $58.69. The company’s 50-day moving average is $54.06 and its 200-day moving average is $48.80.

Magnificent Seven ETF Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 30th were paid a $0.4397 dividend. The ex-dividend date was Monday, December 30th. Magnificent Seven ETF’s dividend payout ratio is presently 107.32%.

Institutional Trading of Magnificent Seven ETF

An institutional investor recently bought a new position in Magnificent Seven ETF stock. VitalStone Financial LLC purchased a new stake in The Magnificent Seven ETF (NASDAQ:MAGS – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 39,216 shares of the company’s stock, valued at approximately $1,870,000. Magnificent Seven ETF accounts for about 1.3% of VitalStone Financial LLC’s portfolio, making the stock its 19th largest position. VitalStone Financial LLC owned 0.24% 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

(Get Free Report)

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.