Short Interest in Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) Drops By 62.3%

Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 51,249 shares, a drop of 62.3% from the July 15th total of 136,007 shares. Based on an average trading volume of 71,194 shares, the short-interest ratio is currently 0.7 days. Approximately 2.8% of the company’s shares are sold short.

Institutional Investors Weigh In On Roundhill Daily 2X Long Magnificent Seven ETF

An institutional investor recently raised its position in Roundhill Daily 2X Long Magnificent Seven ETF stock. Physician Wealth Advisors Inc. lifted its holdings in shares of Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) by 34.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 863 shares of the company’s stock after acquiring an additional 220 shares during the quarter. Physician Wealth Advisors Inc. owned 0.07% of Roundhill Daily 2X Long Magnificent Seven ETF worth $49,000 as of its most recent filing with the SEC.

Roundhill Daily 2X Long Magnificent Seven ETF Price Performance

MAGX stock opened at $56.48 on Friday. The stock has a 50-day moving average price of $53.24 and a two-hundred day moving average price of $52.71. Roundhill Daily 2X Long Magnificent Seven ETF has a 12-month low of $38.72 and a 12-month high of $63.47.

Roundhill Daily 2X Long Magnificent Seven ETF Company Profile

The Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund-of-funds aiming to achieve 2x the return, for a single day, of the Roundhill Magnificent Seven ETF (MAGS) through derivative instruments such as swaps. MAGX was launched on Feb 29, 2024 and is issued by Roundhill.