Fidelity Magellan ETF (BATS:FMAG – Get Free Report) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 17,697 shares, an increase of 367.7% from the July 15th total of 3,784 shares. Based on an average daily volume of 12,764 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.2% of the company’s shares are short sold.
Fidelity Magellan ETF Trading Up 0.4%
Shares of FMAG opened at $37.19 on Friday. Fidelity Magellan ETF has a 12-month low of $30.49 and a 12-month high of $37.58. The firm has a fifty day moving average price of $36.11 and a 200-day moving average price of $34.91. The firm has a market capitalization of $274.46 million, a P/E ratio of 34.77 and a beta of 1.13.
Hedge Funds Weigh In On Fidelity Magellan ETF
Hedge funds and other institutional investors have recently made changes to their positions in the company. MWA Asset Management purchased a new position in Fidelity Magellan ETF during the 1st quarter valued at about $63,000. Osaic Holdings Inc. purchased a new stake in shares of Fidelity Magellan ETF in the 2nd quarter worth approximately $74,000. LPL Financial LLC bought a new position in shares of Fidelity Magellan ETF during the fourth quarter valued at approximately $222,000. JPMorgan Chase & Co. purchased a new position in shares of Fidelity Magellan ETF in the 3rd quarter valued at $257,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Fidelity Magellan ETF in the 1st quarter worth approximately $261,000.
Fidelity Magellan ETF Company Profile
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.
Recommended Stories
- Five stocks we like better than Fidelity Magellan ETF
- Asian Market Circuit Breakers Hit Stocks, Not AI Demand
- Riot Platforms Re-Wires the Ledger for a $9B AI Power Play
- Nebius Just Exploded 34% on Blowout Earnings—Is It Time to Buy?
- Joby’s Defense Pivot Accelerates With $500M Resonant Sciences Deal
Receive News & Ratings for Fidelity Magellan ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fidelity Magellan ETF and related companies with MarketBeat.com's FREE daily email newsletter.
