Fidelity Magellan ETF (BATS:FMAG – Get Free Report) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 340 shares, a decrease of 99.5% from the September 15th total of 67,024 shares. Based on an average daily trading volume, of 16,460 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MWA Asset Management acquired a new stake in shares of Fidelity Magellan ETF during the 1st quarter worth about $63,000. Integrated Wealth Concepts LLC acquired a new position in Fidelity Magellan ETF in the second quarter valued at about $196,000. Citadel Advisors LLC bought a new stake in Fidelity Magellan ETF during the second quarter worth about $253,000. Cetera Investment Advisers grew its stake in Fidelity Magellan ETF by 66.3% during the first quarter. Cetera Investment Advisers now owns 28,808 shares of the company’s stock worth $911,000 after buying an additional 11,489 shares during the last quarter. Finally, Kestra Advisory Services LLC increased its holdings 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 buying an additional 5,381 shares in the last quarter.
Fidelity Magellan ETF Price Performance
Shares of Fidelity Magellan ETF stock traded up $0.27 during midday trading on Friday, hitting $36.67. 6,785 shares of the company were exchanged, compared to its average volume of 24,700. The firm has a market cap of $270.62 million, a P/E 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 firm has a 50 day simple moving average of $36.22 and a 200-day simple moving average of $35.62.
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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