Fidelity Magellan ETF (BATS:FMAG – Get Free Report) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 25,484 shares, an increase of 57.0% from the August 15th total of 16,227 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 19,699 shares, the short-interest ratio is presently 1.3 days.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors grew its position in Fidelity Magellan ETF by 14.1% during the first 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 in the last quarter. UBS Group AG raised its holdings in Fidelity Magellan ETF by 23.8% in the 4th quarter. UBS Group AG now owns 64,861 shares of the company’s stock valued at $2,214,000 after acquiring an additional 12,467 shares in the last quarter. Cetera Investment Advisers raised its holdings in Fidelity Magellan ETF by 66.3% in the 1st quarter. Cetera Investment Advisers now owns 28,808 shares of the company’s stock valued at $911,000 after acquiring an additional 11,489 shares in the last quarter. Citadel Advisors LLC acquired a new position in Fidelity Magellan ETF in the 2nd quarter valued at $253,000. Finally, Sigma Planning Corp lifted its position in shares of Fidelity Magellan ETF by 15.6% during the 1st quarter. Sigma Planning Corp now owns 47,198 shares of the company’s stock valued at $1,492,000 after acquiring an additional 6,352 shares during the period.
Fidelity Magellan ETF Trading Up 1.2%
BATS:FMAG opened at $35.21 on Friday. The stock has a 50 day simple moving average of $36.00 and a 200 day simple moving average of $35.26. The stock has a market cap of $259.85 million, a P/E ratio of 34.77 and a beta of 1.13. Fidelity Magellan ETF has a 1-year low of $30.49 and a 1-year high of $37.58.
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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