MAGS ETF Surges as Meta and Apple Stocks Reach New Heights

The Roundhill Magnificent Seven ETF (MAGS) has seen significant growth in recent months, with its constituents such as Meta Platforms and Apple experiencing a surge. The MAGS ETF reached a record high of $73.47, up over 32% from its lowest level this year.

Data shows that the fund added over $43 million in inflows on September 18, bringing the 30-day inflows to over $182 million. The fund's assets under management (AUM) have surpassed $4.7 billion.

Meta Platforms' stock has been a major contributor to MAGS' growth, with its price increasing by 45% from its lowest level this year. This growth can be attributed to the success of its AI agent platform, Muse, which has seen over 738,000 downloads in the last five days since its launch.

Apple stock has also been a significant contributor to MAGS' growth, with its price hovering near its all-time high of $345. Nvidia's jump to $229 and Alphabet's retreat from its year-to-date high are other notable trends in the Magnificent 7 companies.