Royal Bank of Canada Reduces Position in Fidelity Magellan ETF $FMAG

Royal Bank of Canada reduced its stake in Fidelity Magellan ETF (BATS:FMAG) by 67.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,501 shares of the company’s stock after selling 17,254 shares during the quarter. Royal Bank of Canada’s holdings in Fidelity Magellan ETF were worth $269,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. MWA Asset Management bought a new position in shares of Fidelity Magellan ETF in the first quarter worth about $63,000. Osaic Holdings Inc. bought a new position in shares of Fidelity Magellan ETF during the 2nd quarter valued at approximately $74,000. LPL Financial LLC bought a new position in shares of Fidelity Magellan ETF during the 4th quarter valued at approximately $222,000. JPMorgan Chase & Co. purchased a new stake in Fidelity Magellan ETF in the 3rd quarter worth approximately $257,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Fidelity Magellan ETF during the first quarter valued at approximately $261,000.

Fidelity Magellan ETF Stock Up 0.6%

BATS:FMAG opened at $36.42 on Friday. Fidelity Magellan ETF has a 52 week low of $30.49 and a 52 week high of $37.58. The business’s 50-day simple moving average is $36.17 and its two-hundred day simple moving average is $35.07. The stock has a market cap of $268.78 million, a PE ratio of 34.77 and a beta of 1.13.

Fidelity Magellan ETF 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.