Short Interest in Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) Drops By 62.3%

Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) saw a large decrease in short interest in July. As of July 31st, there was short interest totaling 51,249 shares, a decrease of 62.3% from the July 15th total of 136,007 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 71,194 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On Roundhill Daily 2X Long Magnificent Seven ETF

An institutional investor recently bought a new position in Roundhill Daily 2X Long Magnificent Seven ETF stock. Flow Traders U.S. LLC purchased a new position in shares of Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,897 shares of the company’s stock, valued at approximately $1,234,000. Flow Traders U.S. LLC owned about 1.72% of Roundhill Daily 2X Long Magnificent Seven ETF at the end of the most recent reporting period.

Roundhill Daily 2X Long Magnificent Seven ETF Trading Up 2.5%

BATS MAGX opened at $56.86 on Friday. The business’s fifty day simple moving average is $53.20 and its 200-day simple moving average is $52.69. Roundhill Daily 2X Long Magnificent Seven ETF has a 52 week low of $38.72 and a 52 week high of $63.47.

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.