Fidelity Magellan ETF (BATS:FMAG – Get Free Report) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totaling 340 shares, a decline of 99.5% from the September 15th total of 67,024 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 16,460 shares, the short-interest ratio is presently 0.0 days.
Fidelity Magellan ETF Price Performance
Shares of FMAG traded up $0.27 during mid-day trading on Friday, hitting $36.67. 6,785 shares of the company’s stock were exchanged, compared to its average volume of 24,700. The company has a market cap of $270.62 million, a PE ratio of 34.77 and a beta of 1.13. Fidelity Magellan ETF has a 52 week low of $30.49 and a 52 week high of $37.58. The company has a 50-day simple moving average of $36.22 and a 200 day simple moving average of $35.62.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the business. Arkadios Wealth Advisors increased its stake in Fidelity Magellan ETF by 14.1% in the 1st quarter. Arkadios Wealth Advisors now owns 220,450 shares of the company’s stock valued at $6,971,000 after buying an additional 27,299 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Fidelity Magellan ETF by 3.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 100,620 shares of the company’s stock worth $3,700,000 after buying an additional 3,028 shares during the last quarter. Sigma Planning Corp boosted its stake 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 worth $1,492,000 after buying an additional 6,352 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Fidelity Magellan ETF by 15.5% in the 1st quarter. Kestra Advisory Services LLC now owns 40,172 shares of the company’s stock valued at $1,270,000 after acquiring an additional 5,381 shares in the last quarter. Finally, Cetera Investment Advisers increased its position 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 valued at $911,000 after acquiring an additional 11,489 shares during the last quarter.
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.
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