Short Interest in The Magnificent Seven ETF (NASDAQ:MAGS) Grows By 195.7%

The Magnificent Seven ETF (NASDAQ:MAGS) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,180,000 shares, an increase of 195.7% from the November 30th total of 399,100 shares. Based on an average daily trading volume, of 1,214,700 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Magnificent Seven ETF stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of The Magnificent Seven ETF (NASDAQ:MAGS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 15.39% of the company’s stock.

Magnificent Seven ETF Price Performance

Shares of MAGS traded down $1.34 during mid-day trading on Friday, reaching $56.33. 2,745,979 shares of the company’s stock were exchanged, compared to its average volume of 647,012. The business’s fifty day simple moving average is $52.49 and its 200-day simple moving average is $47.90. The stock has a market capitalization of $976.76 million, a PE ratio of 137.39 and a beta of 1.55. Magnificent Seven ETF has a 52-week low of $32.03 and a 52-week high of $58.69.

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.