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

The Magnificent Seven ETF (NASDAQ:MAGS) shares saw strong trading volume on Tuesday . 301,678 shares changed hands during trading, a decline of 42% from the previous session’s volume of 518,123 shares.The stock last traded at $55.60 and had previously closed at $54.91.

Magnificent Seven ETF Stock Performance

The business has a fifty day moving average of $49.77 and a two-hundred day moving average of $46.53. The firm has a market cap of $965.66 million, a price-to-earnings ratio of 133.93 and a beta of 1.55.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Magnificent Seven ETF stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of The Magnificent Seven ETF (NASDAQ:MAGS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC). 15.39% of the stock is currently owned by institutional investors.

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.