Retail Investors Flock to Magnificent Seven ETF Amid Market Drop

Individual investors recently purchased significant shares in the Roundhill Magnificent Seven ETF, a fund linked to major tech companies. Despite a steep decline in both the ETF and the market, retail investors showed interest, with 25% of buyers being individuals. Broader index-linked products remain popular.

During a significant downturn in the U.S. stock market, retail investors sought solace in purchasing the Roundhill Magnificent Seven ETF, connected to leading tech giants.

The ETF witnessed an infusion of $50 million over four trading days, defying a preceding five-week depletion of $163 million.

Despite the ETF's year-to-date decline, retail interest remains, reflecting confidence in tech stocks, with products like Invesco QQQ also seeing increased buying.

(With inputs from agencies.)