Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) Sees Large Decline in Short Interest

Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totaling 26,738 shares, a drop of 89.4% from the April 30th total of 252,954 shares. Based on an average daily trading volume, of 168,166 shares, the short-interest ratio is currently 0.2 days. Currently, 1.5% of the shares of the stock are short sold.

Hedge Funds Weigh In On Roundhill Daily 2X Long Magnificent Seven ETF

A number of hedge funds have recently modified their holdings of the business. Physician Wealth Advisors Inc. lifted its holdings 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 purchasing an additional 220 shares during the period. IFP Advisors Inc lifted its holdings in shares of Roundhill Daily 2X Long Magnificent Seven ETF by 35.7% during the third quarter. IFP Advisors Inc now owns 1,900 shares of the company’s stock worth $107,000 after purchasing an additional 500 shares during the period. 180 Wealth Advisors LLC acquired a new position in shares of Roundhill Daily 2X Long Magnificent Seven ETF during the fourth quarter worth $979,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of Roundhill Daily 2X Long Magnificent Seven ETF during the third quarter worth $1,234,000.

Roundhill Daily 2X Long Magnificent Seven ETF Stock Performance

Shares of Roundhill Daily 2X Long Magnificent Seven ETF stock opened at $61.40 on Thursday. Roundhill Daily 2X Long Magnificent Seven ETF has a fifty-two week low of $36.67 and a fifty-two week high of $63.47. The company’s 50 day moving average price is $52.38 and its two-hundred day moving average price is $53.95.

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.