Short Interest in The Magnificent Seven ETF (NASDAQ:MAGS) Expands By 137.4%

The Magnificent Seven ETF (NASDAQ:MAGS) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 261,900 shares, an increase of 137.4% from the July 15th total of 110,300 shares. Based on an average daily trading volume, of 619,100 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Magnificent Seven ETF stock. Ashton Thomas Private Wealth LLC bought a new stake in The Magnificent Seven ETF (NASDAQ:MAGS) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 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. Institutional investors own 15.39% of the company’s stock.

Magnificent Seven ETF Stock Up 3.0 %

Shares of Magnificent Seven ETF stock traded up $1.28 during mid-day trading on Tuesday, reaching $43.84. 545,868 shares of the stock traded hands, compared to its average volume of 381,607. The stock has a market capitalization of $654.97 million, a PE ratio of 106.93 and a beta of 1.55. The business has a 50-day moving average of $44.99 and a 200 day moving average of $40.90. Magnificent Seven ETF has a fifty-two week low of $27.85 and a fifty-two week high of $49.96.

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.