Magnificent Seven ETF (NASDAQ:MAGS) Sees Unusually-High Trading Volume – Should You Buy?

Shares of The Magnificent Seven ETF (NASDAQ:MAGS) saw an uptick in trading volume on Wednesday . 147,266 shares were traded during mid-day 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 firm has a 50 day moving average price of $48.66 and a two-hundred day moving average price of $45.75. The company has a market capitalization of $878.79 million, a P/E ratio of 125.49 and a beta of 1.55.

Hedge Funds 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 filing with the Securities & Exchange Commission. The firm acquired 39,216 shares of the company’s stock, valued at approximately $1,870,000. Magnificent Seven ETF comprises approximately 1.3% of VitalStone Financial LLC’s investment portfolio, making the stock its 19th largest holding. VitalStone Financial LLC owned about 0.24% of Magnificent Seven ETF at the end of the most recent quarter. Institutional investors and hedge funds 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.