Short Interest in Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) Decreases By 62.3%

Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 51,249 shares, a decline of 62.3% from the July 15th total of 136,007 shares. Based on an average daily trading volume, of 71,194 shares, the short-interest ratio is presently 0.7 days. Approximately 2.8% of the company’s stock are short sold.

Institutional Investors Weigh In On Roundhill Daily 2X Long Magnificent Seven ETF

An institutional investor recently bought a new position in Roundhill Daily 2X Long Magnificent Seven ETF stock. Flow Traders U.S. LLC bought a new stake in Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 21,897 shares of the company’s stock, valued at approximately $1,234,000. Flow Traders U.S. LLC owned about 1.72% of Roundhill Daily 2X Long Magnificent Seven ETF as of its most recent SEC filing.

Roundhill Daily 2X Long Magnificent Seven ETF Stock Down 0.7%

Shares of MAGX stock opened at $56.48 on Friday. Roundhill Daily 2X Long Magnificent Seven ETF has a 12-month low of $38.72 and a 12-month high of $63.47. The business’s fifty day simple moving average is $53.24 and its 200-day simple moving average is $52.71.

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.