Magnificent Seven ETF Target of Unusually High Options Trading (NASDAQ:MAGS)

The Magnificent Seven ETF (NASDAQ:MAGS) saw some unusual options trading on Tuesday. Stock investors purchased 19,576 put options on the company. This is an increase of 336% compared to the typical volume of 4,488 put options.

Magnificent Seven ETF Stock Performance

Shares of NASDAQ:MAGS traded down $0.32 on Tuesday, hitting $44.55. The stock had a trading volume of 2,114,576 shares, compared to its average volume of 2,856,509. The firm’s 50 day moving average price is $48.90 and its 200-day moving average price is $51.22. Magnificent Seven ETF has a twelve month low of $36.24 and a twelve month high of $58.69. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 108.66 and a beta of 1.24.

Institutional Trading of Magnificent Seven ETF

Several hedge funds have recently modified their holdings of the company. J.Safra Asset Management Corp bought a new stake in Magnificent Seven ETF during the 4th quarter worth approximately $23,035,000. Comprehensive Financial Planning Inc. PA acquired a new position in Magnificent Seven ETF in the fourth quarter worth $877,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Magnificent Seven ETF during the fourth quarter worth $510,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of Magnificent Seven ETF in the fourth quarter valued at $408,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Magnificent Seven ETF in the fourth quarter valued at $341,000. Institutional investors and hedge funds 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.