Fidelity Magellan ETF (BATS:FMAG) Sees Large Increase in Short Interest

Fidelity Magellan ETF (BATS:FMAG) was the target of a significant growth in short interest in May. As of May 29th, there was short interest totaling 6,687 shares, a growth of 119.2% from the May 14th total of 3,051 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 17,438 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Fidelity Magellan ETF

Several hedge funds have recently made changes to their positions in FMAG. Jones Financial Companies Lllp raised its holdings in Fidelity Magellan ETF by 10.4% in the first quarter. Jones Financial Companies Lllp now owns 11,523 shares of the company’s stock valued at $335,000 after acquiring an additional 1,083 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Fidelity Magellan ETF by 18.9% in the third quarter. Integrated Wealth Concepts LLC now owns 7,780 shares of the company’s stock valued at $274,000 after acquiring an additional 1,239 shares in the last quarter. MWA Asset Management acquired a new stake in Fidelity Magellan ETF in the first quarter valued at approximately $63,000. Osaic Holdings Inc. acquired a new stake in Fidelity Magellan ETF in the second quarter valued at approximately $74,000. Finally, Sigma Planning Corp raised its holdings in Fidelity Magellan ETF by 6.1% in the fourth quarter. Sigma Planning Corp now owns 40,846 shares of the company’s stock valued at $1,394,000 after acquiring an additional 2,343 shares in the last quarter.

Fidelity Magellan ETF Stock Performance

Shares of FMAG opened at $36.03 on Monday. The stock has a market capitalization of $265.90 million, a PE ratio of 34.77 and a beta of 1.13. Fidelity Magellan ETF has a 1 year low of $30.49 and a 1 year high of $37.19. The company’s 50-day simple moving average is $35.44 and its 200-day simple moving average is $34.34.

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.