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

The Magnificent Seven ETF (NASDAQ:MAGS) saw unusually large options trading activity on Monday. Traders acquired 3,971 call options on the company. This represents an increase of 29% compared to the average daily volume of 3,078 call options.

Hedge Funds Weigh In On Magnificent Seven ETF

Several hedge funds have recently made changes to their positions in MAGS. University of Texas Texas AM Investment Management Co. bought a new stake in Magnificent Seven ETF in the fourth quarter valued at $106,000. Ameriflex Group Inc. purchased a new stake in shares of Magnificent Seven ETF in the 4th quarter worth about $157,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Magnificent Seven ETF in the 4th quarter worth about $175,000. Goodman Financial Corp bought a new stake in shares of Magnificent Seven ETF during the 4th quarter valued at about $225,000. Finally, Strategic Wealth Partners Ltd. purchased a new position in shares of Magnificent Seven ETF during the fourth quarter valued at about $231,000. 15.39% of the stock is owned by hedge funds and other institutional investors.

Magnificent Seven ETF Price Performance

NASDAQ MAGS opened at $49.46 on Wednesday. Magnificent Seven ETF has a 1 year low of $36.24 and a 1 year high of $58.69. The stock has a market capitalization of $1.79 billion, a PE ratio of 120.63 and a beta of 1.55. The business’s 50-day moving average is $52.36 and its 200 day moving average is $51.37.

Magnificent Seven ETF Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 30th were given a $0.4397 dividend. The ex-dividend date was Monday, December 30th. Magnificent Seven ETF’s dividend payout ratio is currently 107.32%.

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.