Magnificent Seven ETF (NASDAQ:MAGS) Sees Strong Trading Volume – Time to Buy?

The Magnificent Seven ETF (NASDAQ:MAGS) saw strong trading volume on Tuesday . 301,678 shares traded hands during trading, a decline of 42% from the previous session’s volume of 518,123 shares.The stock last traded at $55.60 and had previously closed at $54.91.

Magnificent Seven ETF Stock Performance

The stock has a 50 day moving average price of $50.15 and a 200 day moving average price of $46.70. The company has a market capitalization of $990.81 million, a P/E ratio of 139.37 and a beta of 1.55.

Institutional Trading of Magnificent Seven ETF

A hedge fund recently bought a new position in Magnificent Seven ETF stock. Ashton Thomas Private Wealth LLC purchased a new position in shares of The Magnificent Seven ETF (NASDAQ:MAGS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 11,392 shares of the company’s stock, valued at approximately $514,000. Ashton Thomas Private Wealth LLC owned about 0.08% of Magnificent Seven ETF as of its most recent SEC filing. 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.