We have measured the characteristics of a novel SQUID magnetometer pumped at 9 GHz. The device comprises a niobium point-contact shunting a low impedance superconducting microwave transmission line which isolates the junction at high frequencies from a toroidal input transformer. The junction is matched to a 50 Ω coaxial transmission line and the SQUID is operated in a reflection mode. For low values of the weak link critical current we observe a modulation of the phase of the reflected microwave signal periodic in the applied flux. The modulation persists at high microwave power levels indicating that the junction response is maintained to at least 200 GHz. For large values of critical current, amplitude modulation is observed. We have obtained a differential sideband power of 230 pW/(

which is close to the value predicted by a simple model. In flux-locked loop operation we have obtained an energy sensitivity referred to the input terminals of 7 × 10
-31J/Hz, which is superior to that so far reported for any other SQUID.