Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX – Get Free Report) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totaling 75,383 shares, an increase of 265.4% from the May 31st total of 20,628 shares. Based on an average daily trading volume, of 72,684 shares, the days-to-cover ratio is currently 1.0 days. Approximately 4.2% of the company’s stock are sold short.
Roundhill Daily 2X Long Magnificent Seven ETF Stock Performance
Roundhill Daily 2X Long Magnificent Seven ETF stock opened at $46.94 on Monday. The company has a 50 day moving average of $56.40 and a 200-day moving average of $53.48. Roundhill Daily 2X Long Magnificent Seven ETF has a twelve month low of $38.72 and a twelve month high of $63.47.
Hedge Funds Weigh In On Roundhill Daily 2X Long Magnificent Seven ETF
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Flow Traders U.S. LLC bought a new position in Roundhill Daily 2X Long Magnificent Seven ETF during the 3rd quarter worth about $1,234,000. 180 Wealth Advisors LLC bought a new stake in shares of Roundhill Daily 2X Long Magnificent Seven ETF in the fourth quarter valued at about $979,000. IFP Advisors Inc lifted its holdings in shares of Roundhill Daily 2X Long Magnificent Seven ETF by 35.7% in the third quarter. IFP Advisors Inc now owns 1,900 shares of the company’s stock valued at $107,000 after purchasing an additional 500 shares in the last quarter. Finally, Physician Wealth Advisors Inc. boosted its position in shares of Roundhill Daily 2X Long Magnificent Seven ETF by 34.2% during the fourth quarter. Physician Wealth Advisors Inc. now owns 863 shares of the company’s stock worth $49,000 after buying an additional 220 shares during the period.
Roundhill Daily 2X Long Magnificent Seven ETF Company Profile
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.
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