Short Interest in Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) Decreases By 89.4%

Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) saw a large drop in short interest in the month of 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 daily volume of 168,166 shares, the days-to-cover ratio is currently 0.2 days.

Roundhill Daily 2X Long Magnificent Seven ETF Stock Up 1.8%

BATS:MAGX opened at $62.52 on Friday. Roundhill Daily 2X Long Magnificent Seven ETF has a 1 year low of $36.67 and a 1 year high of $63.47. The stock’s 50 day simple moving average is $52.68 and its two-hundred day simple moving average is $53.98.

Institutional Trading of Roundhill Daily 2X Long Magnificent Seven ETF

A number of large investors have recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. increased its stake in Roundhill Daily 2X Long Magnificent Seven ETF by 34.2% in 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 during the last quarter. IFP Advisors Inc increased its stake in Roundhill Daily 2X Long Magnificent Seven ETF by 35.7% in 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 during the last quarter. 180 Wealth Advisors LLC bought a new stake in Roundhill Daily 2X Long Magnificent Seven ETF in the 4th quarter worth approximately $979,000. Finally, Flow Traders U.S. LLC bought a new stake in Roundhill Daily 2X Long Magnificent Seven ETF in the 3rd quarter worth approximately $1,234,000.

About Roundhill Daily 2X Long Magnificent Seven ETF

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.