Roundhill Magnificent Seven ETF Sees Significant Outflow
Looking at the latest data from ETF Channel, the Roundhill Magnificent Seven ETF (Symbol: MAGS) has encountered a notable outflow of approximately $115.0 million. This represents a 5.7% decrease in shares outstanding, dropping from 36,650,000 to 34,570,000 over the past week.
The chart above illustrates the one-year price performance of MAGS compared to its 200-day moving average. Within the last year, MAGS reached a low point of $53.71 per share, while its peak was $55.8271. Currently, it is trading at $54.90. Analyzing the share price relative to the 200-day moving average can be an effective strategy for technical analysis.
Exchange-traded funds (ETFs) operate similarly to stocks; however, investors buy and sell “units” instead of traditional shares. These units can be traded back and forth like stocks and can also be created or destroyed based on investor demand. Each week, we track the changes in shares outstanding to identify ETFs experiencing significant inflows (an increase in units) or outflows (a decrease in units). The creation of new units necessitates purchasing the underlying assets in the ETF, while the destruction of units involves selling these assets, potentially affecting individual components held within the fund.
Click here to find out which 9 other ETFs experienced notable outflows »
Additional Information:
– HWC Dividend Growth Rate
– Funds Holding MDC
– Institutional Holders of RIF
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
