Roundhill Magnificent Seven ETF (BATS:MAGS) Sees Significant Growth in Short Interest

Roundhill Magnificent Seven ETF (BATS:MAGS) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 3,522,773 shares, an increase of 112.2% from the May 31st total of 1,660,429 shares. Currently, 8.0% of the company’s shares are sold short. Based on an average daily volume of 4,535,070 shares, the days-to-cover ratio is presently 0.8 days.

Roundhill Magnificent Seven ETF Stock Up 1.2%

Shares of MAGS opened at $64.30 on Wednesday. The company has a market cap of $2.82 billion, a PE ratio of 35.22 and a beta of 1.31. The business has a fifty day moving average of $67.11 and a 200 day moving average of $64.60. Roundhill Magnificent Seven ETF has a 52-week low of $54.39 and a 52-week high of $71.16.

Institutional Investors Weigh In On Roundhill Magnificent Seven ETF

Several institutional investors have recently made changes to their positions in MAGS. Marshall Wace LLP boosted its stake in shares of Roundhill Magnificent Seven ETF by 101.3% during the 3rd quarter. Marshall Wace LLP now owns 519,712 shares of the company’s stock worth $33,709,000 after purchasing an additional 261,587 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Roundhill Magnificent Seven ETF during the second quarter valued at approximately $3,768,000. J.Safra Asset Management Corp boosted its position in shares of Roundhill Magnificent Seven ETF by 2.9% during the fourth quarter. J.Safra Asset Management Corp now owns 1,510,220 shares of the company’s stock valued at $99,614,000 after buying an additional 42,741 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of Roundhill Magnificent Seven ETF during the fourth quarter valued at approximately $1,762,000. Finally, Advisory Services Network LLC raised its holdings in shares of Roundhill Magnificent Seven ETF by 169.5% in the fourth quarter. Advisory Services Network LLC now owns 40,912 shares of the company’s stock worth $2,699,000 after buying an additional 25,733 shares during the period.

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.