Magnificent Seven ETF (NASDAQ:MAGS) Sees Large Volume Increase – Still a Buy?

The Magnificent Seven ETF (NASDAQ:MAGS) saw strong trading volume on Wednesday . 147,266 shares traded hands 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 company has a 50 day moving average of $48.87 and a 200-day moving average of $45.83. The stock has a market cap of $884.34 million, a price-to-earnings ratio of 124.39 and a beta of 1.55.

Institutional Trading of Magnificent Seven ETF

A hedge fund recently bought a new stake in Magnificent Seven ETF stock. VitalStone Financial LLC bought a new position in shares of The Magnificent Seven ETF (NASDAQ:MAGS) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 39,216 shares of the company’s stock, valued at approximately $1,870,000. Magnificent Seven ETF makes up 1.3% of VitalStone Financial LLC’s holdings, making the stock its 19th biggest position. VitalStone Financial LLC owned 0.24% 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.

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.