The Magnificent Seven ETF (NASDAQ:MAGS) Sees Large Growth in Short Interest

The Magnificent Seven ETF (NASDAQ:MAGS) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,150,000 shares, an increase of 29.6% from the December 31st total of 887,500 shares. Based on an average trading volume of 1,788,900 shares, the short-interest ratio is currently 0.6 days.

Institutional Trading of Magnificent Seven ETF

Institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Magnificent Seven ETF during the 4th quarter valued at approximately $175,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of Magnificent Seven ETF during the fourth quarter valued at $408,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Magnificent Seven ETF during the 4th quarter valued at $877,000. Finally, VitalStone Financial LLC purchased a new position in Magnificent Seven ETF during the 3rd quarter valued at about $1,870,000. 15.39% of the stock is currently owned by hedge funds and other institutional investors.

Magnificent Seven ETF Stock Performance

Shares of NASDAQ MAGS traded down $0.95 during mid-day trading on Monday, reaching $54.70. 2,813,433 shares of the company’s stock were exchanged, compared to its average volume of 2,377,268. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 133.41 and a beta of 1.55. The company’s 50-day moving average is $55.15 and its 200-day moving average is $49.50. Magnificent Seven ETF has a 52-week low of $35.97 and a 52-week high of $58.69.

Magnificent Seven ETF Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 30th were issued a $0.4397 dividend. The ex-dividend date of this dividend was Monday, December 30th. Magnificent Seven ETF’s payout ratio is 107.32%.

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.