Magnificent Seven ETF (NASDAQ:MAGS) Hits New 12-Month High – Time to Buy?

The Magnificent Seven ETF (NASDAQ:MAGS) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $55.29 and last traded at $54.73, with a volume of 952715 shares. The stock had previously closed at $55.09.

Magnificent Seven ETF Stock Up 3.0 %

The business has a 50-day moving average price of $49.94 and a 200-day moving average price of $46.63. The firm has a market capitalization of $990.81 million, a price-to-earnings ratio of 135.27 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 acquired a new stake in shares of The Magnificent Seven ETF (NASDAQ:MAGS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,392 shares of the company’s stock, valued at approximately $514,000. Ashton Thomas Private Wealth LLC owned approximately 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.

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.