Tuttle Capital Management this week launched the Magnificent 7 Income Blast ETF (MAGO) on CBOE, combining direct equity exposure to Alphabet with a systematic options-driven income strategy. The fund sells put options on Alphabet and buys further out-of-the-money puts in a defined put-spread structure designed to generate premium while capping downside on its options allocation. Unlike traditional growth-only vehicles, MAGO seeks current income through a rules-based process of rebalancing and rolling put spreads as they expire, targeting returns that track Alphabet’s price performance (before fees) while potentially smoothing dividend-style cash flows in highly volatile markets.

Canoe Financial LP reduced its Alphabet holdings by 11.5% in Q3, selling 152,500 shares to finish the period with 1,176,314 shares—equivalent to 4.1% of its total portfolio and valued at approximately $286 million at quarter-end. Conversely, CWM LP increased its position by 6.4%, acquiring 61,862 shares to hold 1,025,597 shares of Alphabet, worth $249.3 million. These contrasting moves by two large institutional investors signal differing outlooks on Alphabet’s near-term valuation and anticipated earnings growth driven by AI and cloud services.

Investor sentiment around Alphabet remains constructive: Citizens JMP raised its price target by over 13% to $385 with a “market outperform” rating, joining three other firms in upward revisions over the past quarter. However, material insider selling has been notable—COO John Kent Walker sold 17,829 shares for about $5.6 million and director Frances Arnold disposed of 102 shares in December—representing a 29.3% and 0.56% reduction in their personal stakes, respectively. These insider transactions, combined with heavy AI infrastructure capex commentary, will factor into how investors weigh near-term margin pressure against the company’s leading market position.