Magnificent Seven ETF (NASDAQ:MAGS) Trading Up 0% – Time to Buy?

The Magnificent Seven ETF (NASDAQ:MAGS) shares shot up 0% during trading on Monday . The stock traded as high as $46.16 and last traded at $44.87. 2,714,174 shares were traded during mid-day trading, a decline of 5% from the average session volume of 2,867,023 shares. The stock had previously closed at $44.86.

Magnificent Seven ETF Price Performance

The business has a 50-day moving average of $48.68 and a 200 day moving average of $51.17. The company has a market cap of $1.78 billion, a PE ratio of 104.34 and a beta of 1.24.

Institutional Investors Weigh In On Magnificent Seven ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. J.Safra Asset Management Corp bought a new stake in Magnificent Seven ETF during the fourth quarter valued at approximately $23,035,000. BigSur Wealth Management LLC purchased a new position in shares of Magnificent Seven ETF during the 1st quarter worth $2,064,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Magnificent Seven ETF during the 4th quarter valued at $877,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Magnificent Seven ETF in the 4th quarter worth $510,000. Finally, Kingswood Wealth Advisors LLC bought a new position in Magnificent Seven ETF in the 4th quarter worth $408,000. Hedge funds and other institutional investors 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.