Magnificent Seven ETF (NASDAQ:MAGS) Hits New 12-Month High – Should You Buy?

Shares of The Magnificent Seven ETF (NASDAQ:MAGS) hit a new 52-week high during trading on Monday . The stock traded as high as $52.70 and last traded at $52.54, with a volume of 645632 shares trading hands. The stock had previously closed at $51.75.

Magnificent Seven ETF Stock Performance

The company has a market capitalization of $912.26 million, a PE ratio of 126.22 and a beta of 1.55. The company’s 50-day moving average is $48.97 and its 200 day moving average is $45.98.

Hedge Funds Weigh In On Magnificent Seven ETF

A hedge fund recently bought a new stake in Magnificent Seven ETF stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of The Magnificent Seven ETF (NASDAQ:MAGS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and 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 0.08% of Magnificent Seven ETF as of its most recent filing with the Securities and Exchange Commission. 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.