Magnificent Seven ETF (NASDAQ:MAGS) Sees Large Volume Increase – What’s Next?

The Magnificent Seven ETF (NASDAQ:MAGS) shares saw strong trading volume on Wednesday . 147,266 shares traded hands during trading, a decline of 70% from the previous session’s volume of 494,430 shares.The stock last traded at $51.16 and had previously closed at $51.45.

Magnificent Seven ETF Stock Performance

The company has a market capitalization of $884.34 million, a PE ratio of 124.39 and a beta of 1.55. The company’s 50-day simple moving average is $48.87 and its 200-day simple moving average is $45.83.

Hedge Funds Weigh In On Magnificent Seven ETF

A hedge fund recently bought a new stake in Magnificent Seven ETF stock. Ashton Thomas Private Wealth LLC bought a new stake in 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 fund bought 11,392 shares of the company’s stock, valued at approximately $514,000. Ashton Thomas Private Wealth LLC owned 0.08% of Magnificent Seven ETF at the end of the most recent quarter. 15.39% of the stock is currently owned by institutional investors and hedge funds.

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.