MAGS ETF Hits New 52 Week High as Market Cap Grows

The world of exchange-traded funds (ETFs) continues to gain traction with traders and investors alike, and innovators such as Roundhill, and their Magnificent Seven ETF (MAGS) gain greater focus. The MAGS ETF now sits comfortably above the $1 billion market cap threshold, at $1.21B, and hit a new 52 week high in trading at $52.53 after a gain of 9.81% in the past month.

This achievement underscores the growing investor interest in the ETF, which offers targeted exposure to a group of elite technology companies. MAGS is the first U.S. listed ETF that focuses on the “Magnificent Seven” stocks — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla that are continually reshaping the global technological landscape.

For investors, the appeal of MAGS ETF lies in its strong performance against the broader market. and the relative simplicity. The fund has recorded a year-to-date return of 59.58%, which has more than doubled that of both the S&P 500 (+26.17%) and the tech-heavy Nasdaq-100 (+27.36%), highlighting its impressive market standing. The pioneering strides in artificial intelligence of the ‘Magnificent Seven' companies and hyper-scalers have been pivotal in driving their market outperformance.