Magnificent Seven ETF (NASDAQ:MAGS) Hits New 12-Month High – Should You Buy?

The Magnificent Seven ETF (NASDAQ:MAGS)’s stock price reached a new 52-week high on Monday . The company traded as high as $52.70 and last traded at $52.54, with a volume of 645632 shares traded. The stock had previously closed at $51.75.

Magnificent Seven ETF Stock Performance

The stock’s 50-day moving average price is $48.97 and its two-hundred day moving average price is $45.98. The stock has a market capitalization of $912.26 million, a PE ratio of 126.22 and a beta of 1.55.

Institutional Trading of Magnificent Seven ETF

A hedge fund recently bought a new stake in Magnificent Seven ETF stock. VitalStone Financial LLC acquired a new stake in shares of The Magnificent Seven ETF (NASDAQ:MAGS) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 39,216 shares of the company’s stock, valued at approximately $1,870,000. Magnificent Seven ETF comprises about 1.3% of VitalStone Financial LLC’s investment portfolio, making the stock its 19th biggest position. VitalStone Financial LLC owned about 0.24% of Magnificent Seven ETF at the end of the most recent reporting period. Hedge funds and other 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.