Fidelity Magellan ETF (BATS:FMAG) Short Interest Up 367.7% in July

Fidelity Magellan ETF (BATS:FMAG) was the target of a significant increase in short interest in 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. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 12,764 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Investors Weigh In On Fidelity Magellan ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its holdings in shares of Fidelity Magellan ETF by 5.0% during the fourth quarter. Wells Fargo & Company MN now owns 984,395 shares of the company’s stock worth $33,597,000 after buying an additional 47,079 shares in the last quarter. Arkadios Wealth Advisors boosted its position in Fidelity Magellan ETF by 19.8% during the fourth quarter. Arkadios Wealth Advisors now owns 193,151 shares of the company’s stock worth $6,592,000 after acquiring an additional 31,950 shares during the last quarter. Arax Advisory Partners acquired a new position in Fidelity Magellan ETF during the fourth quarter worth about $512,000. UBS Group AG grew its stake in Fidelity Magellan ETF by 23.8% during 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. Finally, Cetera Investment Advisers grew its stake in Fidelity Magellan ETF by 66.3% during 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.

Fidelity Magellan ETF Price Performance

Shares of BATS:FMAG opened at $36.82 on Wednesday. Fidelity Magellan ETF has a 1 year low of $30.49 and a 1 year high of $37.58. The firm has a market capitalization of $271.73 million, a PE ratio of 34.77 and a beta of 1.13. The business’s 50 day moving average price is $36.10 and its 200-day moving average price is $34.87.

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.