Magnificent Seven ETF (NASDAQ:MAGS) Reaches New 52-Week High – Time to Buy?

Shares of The Magnificent Seven ETF (NASDAQ:MAGS) hit a new 52-week high during trading on Wednesday . The company traded as high as $49.98 and last traded at $49.65, with a volume of 573477 shares trading hands. The stock had previously closed at $48.46.

Magnificent Seven ETF Stock Performance

The business’s 50-day moving average price is $46.88 and its 200 day moving average price is $44.62. The company has a market cap of $900.12 million, a P/E ratio of 126.61 and a beta of 1.55.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Magnificent Seven ETF stock. VitalStone Financial LLC acquired a new position in shares of The Magnificent Seven ETF (NASDAQ:MAGS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 39,216 shares of the company’s stock, valued at approximately $1,870,000. Magnificent Seven ETF accounts for 1.3% of VitalStone Financial LLC’s investment portfolio, making the stock its 19th biggest holding. VitalStone Financial LLC owned about 0.24% of Magnificent Seven ETF at the end of the most recent reporting period. Institutional investors own 15.39% of the company’s stock.

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.