Roundhill Magnificent Seven ETF (BATS:MAGS) Reaches New 12-Month High – Time to Buy?

Roundhill Magnificent Seven ETF (BATS:MAGS) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $69.95 and last traded at $69.95, with a volume of 716775 shares changing hands. The stock had previously closed at $69.12.

Roundhill Magnificent Seven ETF Stock Performance

The company’s 50 day moving average price is $62.82 and its 200 day moving average price is $64.50. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 35.22 and a beta of 1.31.

Hedge Funds Weigh In On Roundhill Magnificent Seven ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in shares of Roundhill Magnificent Seven ETF by 51.9% in the first quarter. Parallel Advisors LLC now owns 439 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. Hilton Head Capital Partners LLC grew its position in Roundhill Magnificent Seven ETF by 59.5% during the 1st quarter. Hilton Head Capital Partners LLC now owns 662 shares of the company’s stock worth $38,000 after acquiring an additional 247 shares during the last quarter. Cooksen Wealth LLC increased its holdings in Roundhill Magnificent Seven ETF by 1.8% during the 4th quarter. Cooksen Wealth LLC now owns 17,413 shares of the company’s stock valued at $1,149,000 after purchasing an additional 301 shares in the last quarter. Sound Income Strategies LLC increased its holdings in 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 valued at $117,000 after purchasing an additional 362 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp raised its position in Roundhill Magnificent Seven ETF by 36.9% in the 1st quarter. Murphy & Mullick Capital Management Corp now owns 1,670 shares of the company’s stock valued at $97,000 after purchasing an additional 450 shares during the last quarter.

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