Stock Traders Purchase High Volume of Call Options on Magnificent Seven ETF (NASDAQ:MAGS)

The Magnificent Seven ETF (NASDAQ:MAGS) was the recipient of unusually large options trading on Monday. Traders bought 3,971 call options on the stock. This is an increase of approximately 29% compared to the typical daily volume of 3,078 call options.

Hedge Funds Weigh In On Magnificent Seven ETF

Institutional investors have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new position in Magnificent Seven ETF during the 4th quarter valued at approximately $106,000. Ameriflex Group Inc. purchased a new position in Magnificent Seven ETF during the 4th quarter valued at approximately $157,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Magnificent Seven ETF in the 4th quarter valued at approximately $175,000. Goodman Financial Corp bought a new stake in shares of Magnificent Seven ETF in the 4th quarter valued at approximately $225,000. Finally, Strategic Wealth Partners Ltd. bought a new stake in shares of Magnificent Seven ETF in the 4th quarter valued at approximately $231,000. Hedge funds and other institutional investors own 15.39% of the company’s stock.

Magnificent Seven ETF Stock Performance

Shares of NASDAQ MAGS traded up $1.35 during trading on Monday, hitting $48.66. The company had a trading volume of 1,397,972 shares, compared to its average volume of 2,397,370. The stock has a 50 day simple moving average of $52.55 and a 200 day simple moving average of $51.28. Magnificent Seven ETF has a 12 month low of $36.24 and a 12 month high of $58.69. The firm has a market capitalization of $1.76 billion, a P/E ratio of 118.68 and a beta of 1.55.

Magnificent Seven ETF Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 30th were given a dividend of $0.4397 per share. The ex-dividend date of this dividend was Monday, December 30th. Magnificent Seven ETF’s dividend payout ratio is currently 107.32%.

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.