Magnificent Seven ETF (NASDAQ:MAGS) Sees Unusually-High Trading Volume

Shares of The Magnificent Seven ETF (NASDAQ:MAGS) saw unusually-strong trading volume on Thursday . Approximately 179,726 shares traded hands during mid-day trading, a decline of 57% from the previous session’s volume of 415,929 shares.The stock last traded at $46.29 and had previously closed at $45.05.

Magnificent Seven ETF Price Performance

The stock has a market cap of $698.45 million, a price-to-earnings ratio of 109.88 and a beta of 1.55. The company’s fifty day simple moving average is $44.47 and its two-hundred day simple moving average is $42.31.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Magnificent Seven ETF stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of The Magnificent Seven ETF (NASDAQ:MAGS) during the second quarter, according to its most recent filing with the SEC. The fund acquired 11,392 shares of the company’s stock, valued at approximately $514,000. Ashton Thomas Private Wealth LLC owned 0.08% of Magnificent Seven ETF as of its most recent filing with the SEC. 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.