New Tech Titans ETF Bets On “Magnificent Seven” Stocks

A new Exchange Traded Fund (ETF) has launched in the US and will invest solely in the “Magnificent Seven” growth and technology companies. This includes Google and Apple. The “Magnificent Seven” accounted for 95% of the US market gain in 2023.

The technology giants are the seven: Apple Inc. (AAPL), Microsoft Corp (MFST), Alphabet Inc. (GOOG, GOOGL), Meta Platforms Inc. (META), Tesla Inc. (TSLA), Amazon.com Inc. (AMZN) and Nvidia Corp (NVDA).

Those “Magnificent Seven” accounted for 95% of the US market gain in 2023.   The group itself rose by an average of almost 110%.

Tidal Financial Group and ZEGA Financial launched the ETF in response to demand from investors and to cash in on the investor’s attention, re-launching a mega-tech ETF as the Roundhill Magnificent Seven ETF.

The issuers report that demand for the ETF is strong. Whether this translates into large funds under management, only time will tell.

 

 

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