MAGS ETF Soars as Meta and Apple Stocks Continue to Rise
The Roundhill Magnificent Seven ETF (MAGS) is soaring to new heights as its top constituents, including Meta Platforms and Apple, continue their upward trend. The fund's assets under management have reached over $4.7 billion, with a record high of $73.47 and a year-to-date increase of over 32%.
MAGS added a significant $43 million in inflows on September 18, bringing its 30-day inflows to over $182 million. This growth is largely driven by the success of Meta Platforms, which has seen its stock surge by 45% from its lowest level this year to $756.
Meta's resurgence can be attributed to its AI agent platform, Muse, which has become one of the most downloaded apps in iOS and Android in recent days. The platform has had over 738,000 downloads in the last five days since its launch, outperforming other similar apps.
Apple stock has also been a major contributor to MAGS' success, jumping by over 10% in the past six consecutive weeks and nearing its all-time high of $345. The company's latest devices, including a foldable iPhone that costs around $2,000, have helped drive sales and profits.