Fidelity Magellan ETF (BATS:FMAG) Trading Up 0.2% – Here’s What Happened

Fidelity Magellan ETF (BATS:FMAG) shot up 0.2% during trading on Wednesday . The stock traded as high as $35.97 and last traded at $35.97. Approximately 8,042 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 28,135 shares. The stock had previously closed at $35.91.

Fidelity Magellan ETF Stock Up 0.9%

The stock’s 50-day simple moving average is $36.17 and its two-hundred day simple moving average is $34.63. The company has a market capitalization of $270.33 million, a price-to-earnings ratio of 34.77 and a beta of 1.13.

Institutional Trading of Fidelity Magellan ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN raised its position in shares of Fidelity Magellan ETF by 5.0% during the 4th quarter. Wells Fargo & Company MN now owns 984,395 shares of the company’s stock worth $33,597,000 after purchasing an additional 47,079 shares during the last quarter. Arkadios Wealth Advisors increased its stake in Fidelity Magellan ETF by 14.1% during the 1st 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 increased 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 worth $2,214,000 after buying an additional 12,467 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of Fidelity Magellan ETF by 15.6% during the first 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 last quarter. Finally, Kestra Advisory Services LLC raised 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 valued at $1,270,000 after acquiring an additional 5,381 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.