The Magnifier functionality is defined by the magnifierDefaults parameter in the config.js file as shown below with the default values:

magnifierDefaults: { zoomPercent: 150, width: 300, height:150, x:200, y:100 }

The toggleMagnifier() method to close the Magnifier can be mapped to a shortcut key.

The API call virtualViewer.setMagnifierPosition(X, Y) overrides the defaults and will allow coordinates to be passed.