Roundhill Magnificent Seven ETF (BATS:MAGS) Share Price Breaks Above 50 Day Moving Average – Should You Sell?

Roundhill Magnificent Seven ETF (BATS:MAGS)’s stock price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $70.65 and traded as high as $71.33. Roundhill Magnificent Seven ETF shares last traded at $70.70, with a volume of 3,157,876 shares traded.

Roundhill Magnificent Seven ETF Stock Down 0.3%

The firm has a 50-day moving average price of $70.83 and a 200 day moving average price of $66.31. The firm has a market capitalization of $3.12 billion, a PE ratio of 35.22 and a beta of 1.31.

Hedge Funds Weigh In On Roundhill Magnificent Seven ETF

Several institutional investors have recently bought and sold shares of the company. Wedbush Securities Inc. acquired a new stake in shares of Roundhill Magnificent Seven ETF during the third quarter worth about $996,000. SBI Securities Co. Ltd. grew its holdings in shares of Roundhill Magnificent Seven ETF by 23.4% in the third quarter. SBI Securities Co. Ltd. now owns 2,811 shares of the company’s stock valued at $202,000 after purchasing an additional 533 shares in the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Roundhill Magnificent Seven ETF by 1.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 19,863 shares of the company’s stock valued at $1,424,000 after purchasing an additional 196 shares in the last quarter. Ayalon Insurance Comp Ltd. acquired a new position in shares of Roundhill Magnificent Seven ETF in the third quarter valued at approximately $9,725,000. Finally, Rye Brook Capital LLC grew its holdings in shares of Roundhill Magnificent Seven ETF by 47.8% in the third quarter. Rye Brook Capital LLC now owns 41,020 shares of the company’s stock valued at $2,941,000 after purchasing an additional 13,270 shares in 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.