The Roundhill Magnificent Seven ETF (CBOE: MAGS) has experienced renewed investor interest, with its share price climbing and nearing its all-time high. The fund closed last week at $72.60, approximately 1.2% below its peak of $73.47.
According to the report, the rally in the ETF has coincided with significant capital inflows. Over the last 30 days, the fund has attracted more than $1.1 billion, and over the past 12 months, inflows have totaled $1.58 billion. These investments have helped lift the fund's assets under management to more than $5.5 billion.
The performance of the ETF is driven by the rebound of its top holdings. Nvidia stock reached a record high last week, completing a recovery from a July low of $189.60, following the announcement of a $150 billion share repurchase program. Microsoft stock also jumped to $518, its highest level since October of the previous year, representing a 49% increase from its year-to-date low. Meta Platforms stock peaked at $780, driven by market enthusiasm for its AI agent, Muse. Amazon and Alphabet have also rallied, while Tesla is noted as the only laggard among the group.
Investors are focusing on the upcoming earnings season, which begins next week. Alphabet is scheduled to report results on October 20, followed by Tesla, Meta Platforms, Microsoft, Apple, and Amazon. Nvidia is the final company in the group to release its results. Analysts anticipate the upcoming reports will show continued growth, with the S&P 500 expected to see earnings growth of 29% in the third quarter. The market is looking for tangible evidence that artificial intelligence spending is boosting growth at major companies.
