Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) Sees Large Decline in Short Interest

Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) was the target of a large drop in short interest in May. As of May 15th, there was short interest totaling 26,738 shares, a drop of 89.4% from the April 30th total of 252,954 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average trading volume of 168,166 shares, the short-interest ratio is currently 0.2 days.

Roundhill Daily 2X Long Magnificent Seven ETF Trading Up 1.9%

BATS MAGX opened at $61.40 on Thursday. The firm’s 50 day simple moving average is $52.38 and its 200 day simple moving average is $53.95. Roundhill Daily 2X Long Magnificent Seven ETF has a 1 year low of $36.67 and a 1 year high of $63.47.

Institutional Trading of Roundhill Daily 2X Long Magnificent Seven ETF

Several large investors have recently made changes to their positions in MAGX. Flow Traders U.S. LLC acquired a new stake in shares of Roundhill Daily 2X Long Magnificent Seven ETF during the 3rd quarter worth approximately $1,234,000. IFP Advisors Inc boosted its position in shares of Roundhill Daily 2X Long Magnificent Seven ETF by 35.7% during the 3rd quarter. IFP Advisors Inc now owns 1,900 shares of the company’s stock worth $107,000 after acquiring an additional 500 shares in the last quarter. 180 Wealth Advisors LLC acquired a new stake in shares of Roundhill Daily 2X Long Magnificent Seven ETF during the 4th quarter worth approximately $979,000. Finally, Physician Wealth Advisors Inc. boosted its position in shares of Roundhill Daily 2X Long Magnificent Seven ETF by 34.2% during the 4th quarter. Physician Wealth Advisors Inc. now owns 863 shares of the company’s stock worth $49,000 after acquiring an additional 220 shares in the last quarter.

Roundhill Daily 2X Long Magnificent Seven ETF Company Profile

The Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund-of-funds aiming to achieve 2x the return, for a single day, of the Roundhill Magnificent Seven ETF (MAGS) through derivative instruments such as swaps. MAGX was launched on Feb 29, 2024 and is issued by Roundhill.