MAGX Stock Summary and Trading Ideas (Roundhill Daily 2X Long Magnificent Seven ETF | NASDAQ:MAGX)

The Roundhill Daily 2X Long Magnificent Seven ETF (the "Fund") seeks daily leveraged investment results, before fees and expenses, that correspond to two times (2X) the performance of the Roundhill Magnificent Seven ETF (the "Magnificent Seven ETF"). As a result, the Fund may be riskier than alternatives that do not use leverage because the Fund's objective is to magnify the daily performance of the Magnificent Seven ETF. The Fund seeks daily investment results, before fees and expenses, of two times (2X) the daily performance of the Magnificent Seven ETF. The Fund does not seek to achieve its stated investment objective for a period of time different than a trading day. The "Magnificent Seven" is a commonly used market term to refer to the following seven technology companies Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla.

Roundhill Daily 2X Long Magnificent Seven ETF trades on the NASDAQ stock market under the symbol MAGX.

As of December 11, 2024, MAGX stock price climbed to $50.69 with 94,218 million shares trading.

MAGX has a beta of 3.17, meaning it tends to be more sensitive to market movements. MAGX has a correlation of 0.64 to the broad based SPY ETF.

MAGX has a market cap of $36.50 million. This is considered a Sub-Micro Cap stock.

MAGX support price is $46.84 and resistance is $49.40 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MAGX shares will trade within this expected range on the day.