The Magnificent Seven ETF (NASDAQ:MAGS) Short Interest Up 29.6% in January

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

Magnificent Seven ETF Stock Down 1.2 %

NASDAQ MAGS traded down $0.68 during trading on Monday, hitting $54.95. The stock had a trading volume of 2,575,846 shares, compared to its average volume of 2,364,133. The company has a market capitalization of $2.07 billion, a PE ratio of 134.02 and a beta of 1.55. Magnificent Seven ETF has a twelve month low of $35.97 and a twelve month high of $58.69. The firm has a 50 day moving average price of $55.15 and a 200 day moving average price of $49.50.

Magnificent Seven ETF Announces Dividend

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

Institutional Investors Weigh In On Magnificent Seven ETF

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

About 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.