Short Interest in Roundhill Magnificent Seven ETF (BATS:MAGS) Decreases By 35.0%

Roundhill Magnificent Seven ETF (BATS:MAGS) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 2,461,127 shares, a decrease of 35.0% from the July 30th total of 3,784,413 shares. Approximately 5.6% of the shares of the stock are sold short. Based on an average daily volume of 4,260,943 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Investors Weigh In On Roundhill Magnificent Seven ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Compass Financial Management LLC acquired a new position in Roundhill Magnificent Seven ETF during the second quarter worth $58,000. Brandywine Financial Group purchased a new stake in shares of Roundhill Magnificent Seven ETF during the first quarter worth about $53,000. Parallel Advisors LLC increased its stake in shares of Roundhill Magnificent Seven ETF by 51.9% during the first quarter. Parallel Advisors LLC now owns 439 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Cooksen Wealth LLC raised its position in shares of Roundhill Magnificent Seven ETF by 3.2% during the 1st quarter. Cooksen Wealth LLC now owns 17,970 shares of the company’s stock worth $1,041,000 after purchasing an additional 557 shares during the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of Roundhill Magnificent Seven ETF by 22.2% during the 1st quarter. Sound Income Strategies LLC now owns 1,994 shares of the company’s stock worth $117,000 after purchasing an additional 362 shares during the last quarter.

Roundhill Magnificent Seven ETF Trading Down 0.7%

MAGS traded down $0.49 during trading on Tuesday, hitting $68.25. The company’s stock had a trading volume of 847,518 shares, compared to its average volume of 4,063,553. Roundhill Magnificent Seven ETF has a twelve month low of $55.08 and a twelve month high of $71.16. The business’s fifty day simple moving average is $66.38 and its 200 day simple moving average is $64.91. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 35.22 and a beta of 1.31.

Roundhill 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. MAGS was launched on Apr 11, 2023 and is issued by Roundhill.