Magnificent Seven ETF (NASDAQ:MAGS) Sees Strong Trading Volume – Still a Buy?

The Magnificent Seven ETF (NASDAQ:MAGS) shares saw unusually-high trading volume on Monday . Approximately 364,768 shares traded hands during trading, a decline of 18% from the previous session’s volume of 443,677 shares.The stock last traded at $49.25 and had previously closed at $48.95.

Magnificent Seven ETF Stock Performance

The stock has a market cap of $811.64 million, a P/E ratio of 119.24 and a beta of 1.55. The firm’s 50-day moving average is $46.06 and its two-hundred day moving average is $44.00.

Institutional Investors Weigh In On Magnificent Seven ETF

An institutional investor recently bought a new position in Magnificent Seven ETF stock. VitalStone Financial LLC acquired a new stake in The Magnificent Seven ETF (NASDAQ:MAGS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 portfolio, making the stock its 19th biggest position. VitalStone Financial LLC owned about 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.

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.