Fidelity Magellan ETF (BATS:FMAG – Get Free Report) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totaling 3,784 shares, a drop of 56.3% from the June 30th total of 8,666 shares. Based on an average daily trading volume, of 23,223 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.
Fidelity Magellan ETF Stock Performance
Shares of BATS FMAG opened at $34.95 on Wednesday. The firm has a market cap of $257.93 million, a PE ratio of 34.77 and a beta of 1.13. The firm has a fifty day moving average of $36.12 and a 200 day moving average of $34.74. Fidelity Magellan ETF has a one year low of $30.49 and a one year high of $37.19.
Institutional Trading of Fidelity Magellan ETF
Institutional investors and hedge funds have recently modified their holdings of the stock. Arkadios Wealth Advisors boosted its holdings in Fidelity Magellan ETF by 14.1% in the 1st quarter. Arkadios Wealth Advisors now owns 220,450 shares of the company’s stock worth $6,971,000 after buying an additional 27,299 shares during the last quarter. MWA Asset Management purchased a new position in shares of Fidelity Magellan ETF in the first quarter valued at approximately $63,000. Cetera Investment Advisers boosted its stake in shares of Fidelity Magellan ETF by 66.3% in the first quarter. Cetera Investment Advisers now owns 28,808 shares of the company’s stock worth $911,000 after acquiring an additional 11,489 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Fidelity Magellan ETF by 15.6% in the first quarter. Sigma Planning Corp now owns 47,198 shares of the company’s stock worth $1,492,000 after acquiring an additional 6,352 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its position in shares of Fidelity Magellan ETF by 15.5% during the first quarter. Kestra Advisory Services LLC now owns 40,172 shares of the company’s stock worth $1,270,000 after purchasing an additional 5,381 shares in the last quarter.
About Fidelity Magellan ETF
The Fidelity Magellan ETF (FMAG) is an exchange-traded fund that is based on the S&P 500 TR USD index. The fund is an actively-managed, non-transparent ETF that provides exposure to fundamentally-selected firms located globally. The fund utilizes the Fidelity non-transparent model. FMAG was launched on Feb 2, 2021 and is managed by Fidelity.
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