Magnificent Seven ETF Sees Unusually High Options Volume (NASDAQ:MAGS)

The Magnificent Seven ETF (NASDAQ:MAGS) was the recipient of unusually large options trading activity on Monday. Traders bought 3,971 call options on the stock. This is an increase of 29% compared to the average volume of 3,078 call options.

Magnificent Seven ETF Stock Performance

Shares of MAGS opened at $49.46 on Wednesday. Magnificent Seven ETF has a fifty-two week low of $36.24 and a fifty-two week high of $58.69. The firm has a 50 day moving average price of $52.36 and a 200-day moving average price of $51.37. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 120.63 and a beta of 1.55.

Magnificent Seven ETF Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MAGS. Kingswood Wealth Advisors LLC bought a new position in Magnificent Seven ETF during the 4th quarter worth approximately $408,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Magnificent Seven ETF during the fourth quarter valued at approximately $175,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Magnificent Seven ETF in the fourth quarter worth approximately $877,000. J.Safra Asset Management Corp bought a new position in shares of Magnificent Seven ETF in the fourth quarter worth approximately $23,035,000. Finally, Goodman Financial Corp purchased a new position in shares of Magnificent Seven ETF in the fourth quarter worth $225,000. Hedge funds and other institutional investors own 15.39% of the company’s stock.

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.