If you’re looking for passive income, safety, and diversified exposure to the Magnificent 7 stocks, look at the Roundhill Magnificent Seven Covered Call ETF (SYM: MAGY).
With an expense ratio of 0.99%, and a distribution rate of 34.84%, the Roundhill Magnificent Seven Covered Call ETF uses a covered call strategy with the stocks that make up the Magnificent Seven. That includes Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla. Even better, you don’t need to know anything about options with the ETF.
Simply invest, collect the weekly yield, reinvest the yield, and gain from stock appreciation.
With the fund’s strategy, the MAGY ETF is able to generate options income and weekly distributions for investors. In fact, the ETF just paid a dividend of $0.381511 on July 14 to shareholders of record as of July 11. Before that, it paid a dividend of $0.3763 on July 7 to shareholders of record as of July 3.
We should also note that the underlying ETF for MAGY is the Roundhill Magnificent 7, which owns 15.48% of Nvidia, 14.95% of Alphabet, 14.73% of Amazon, 14.08% of Microsoft, 14.08% of Apple, 14.04% of Meta Platforms and 12.37% of Tesla. The MAGY fund managers sell options on each of the Magnificent 7 stocks but own the MAGS ETF.
Again, with the strategy not only can we earn weekly income from the ETF, but we can potentially make money from further MAGY ETF price appreciation.
Helping, Magnificent 7 stocks continue to be explosive.
Nvidia just hit new record highs, becoming the market’s first $4 trillion company. Shares of Alphabet recently ran from an April low of about $142.49 to a recent high of $181.31. Shares of Amazon ran from an April low of $161.38 to $225.02.
Apple ran from about $169 in April to a recent high of $211.16. Meta Platforms ran from about $480 to $717.51. Microsoft soared from about $344.16 in April to $503.32, as Tesla accelerated from a low of about $220 in April to $313.51.
All thanks to strong earnings, financial strength, and investor confidence in the Magnificent 7’s ability to drive innovation, especially in artificial intelligence and cloud computing.
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Written by Ian Cooper