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

Roundhill Daily 2X Long Magnificent Seven ETF (BATS:MAGX) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 75,383 shares, a growth of 265.4% from the May 31st total of 20,628 shares. Based on an average daily trading volume, of 72,684 shares, the short-interest ratio is currently 1.0 days. Currently, 4.2% of the shares of the company are short sold.

Roundhill Daily 2X Long Magnificent Seven ETF Trading Up 1.7%

Shares of Roundhill Daily 2X Long Magnificent Seven ETF stock opened at $46.94 on Friday. The firm has a 50-day simple moving average of $56.40 and a two-hundred day simple moving average of $53.53. Roundhill Daily 2X Long Magnificent Seven ETF has a fifty-two week low of $38.72 and a fifty-two week high of $63.47.

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

Institutional investors and hedge funds have recently modified their holdings of the business. Physician Wealth Advisors Inc. boosted its position in 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 in the last quarter. IFP Advisors Inc grew its holdings in 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 during the period. 180 Wealth Advisors LLC purchased a new stake in shares of Roundhill Daily 2X Long Magnificent Seven ETF in the fourth quarter valued at approximately $979,000. Finally, Flow Traders U.S. LLC purchased a new stake in shares of Roundhill Daily 2X Long Magnificent Seven ETF in the third quarter valued at approximately $1,234,000.

About Roundhill Daily 2X Long Magnificent Seven ETF

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.