Magnificent Seven ETF (NASDAQ:MAGS) Sees Unusually-High Trading Volume – Should You Buy?

The Magnificent Seven ETF (NASDAQ:MAGS) saw strong trading volume on Wednesday . 147,266 shares traded hands during mid-day trading, a decline of 70% from the previous session’s volume of 494,430 shares.The stock last traded at $51.16 and had previously closed at $51.45.

Magnificent Seven ETF Price Performance

The company has a market capitalization of $878.79 million, a PE ratio of 125.49 and a beta of 1.55. The business has a 50-day moving average of $48.66 and a 200 day moving average of $45.75.

Hedge Funds Weigh In On Magnificent Seven ETF

A hedge fund recently bought a new stake in Magnificent Seven ETF stock. VitalStone Financial LLC purchased a new position in shares of The Magnificent Seven ETF (NASDAQ:MAGS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 39,216 shares of the company’s stock, valued at approximately $1,870,000. Magnificent Seven ETF makes up 1.3% of VitalStone Financial LLC’s portfolio, making the stock its 19th largest position. VitalStone Financial LLC owned about 0.24% of Magnificent Seven ETF as of its most recent SEC filing. 15.39% of the stock is owned by hedge funds and other 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.