The Magnificent Seven ETF (NASDAQ:MAGS) Sees Large Growth in Short Interest

The Magnificent Seven ETF (NASDAQ:MAGS) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,150,000 shares, a growth of 29.6% from the December 31st total of 887,500 shares. Based on an average daily trading volume, of 1,788,900 shares, the days-to-cover ratio is presently 0.6 days.

Magnificent Seven ETF Stock Performance

Shares of MAGS traded down $0.95 during mid-day trading on Monday, reaching $54.70. The company had a trading volume of 2,813,433 shares, compared to its average volume of 2,377,268. The firm has a 50-day moving average price of $55.15 and a 200 day moving average price of $49.50. Magnificent Seven ETF has a 52 week low of $35.97 and a 52 week high of $58.69. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 133.41 and a beta of 1.55.

Magnificent Seven ETF Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 30th were issued a dividend of $0.4397 per share. The ex-dividend date was Monday, December 30th. Magnificent Seven ETF’s dividend payout ratio (DPR) is 107.32%.

Institutional Trading of Magnificent Seven ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Comprehensive Financial Planning Inc. PA purchased a new position in Magnificent Seven ETF in the 4th quarter worth approximately $877,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Magnificent Seven ETF in the fourth quarter valued at about $175,000. Kingswood Wealth Advisors LLC acquired a new stake in Magnificent Seven ETF during the 4th quarter valued at $408,000. Finally, VitalStone Financial LLC acquired a new position in shares of Magnificent Seven ETF during the 3rd quarter valued at about $1,870,000. 15.39% of the stock is currently owned by institutional investors.

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.