Fidelity Magellan ETF $FMAG Shares Sold by Beam Wealth Advisors Inc.

Beam Wealth Advisors Inc. reduced its stake in Fidelity Magellan ETF (BATS:FMAG) by 32.2% during the 1st quarter, HoldingsChannel reports. The firm owned 75,728 shares of the company’s stock after selling 35,889 shares during the period. Beam Wealth Advisors Inc.’s holdings in Fidelity Magellan ETF were worth $2,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of FMAG. Cetera Investment Advisers lifted its holdings in shares of Fidelity Magellan ETF by 107.1% during the fourth quarter. Cetera Investment Advisers now owns 17,319 shares of the company’s stock worth $591,000 after purchasing an additional 8,956 shares during the period. Arax Advisory Partners acquired a new position in Fidelity Magellan ETF in the 4th quarter valued at $512,000. Jones Financial Companies Lllp raised its position in Fidelity Magellan ETF by 10.4% during the 1st quarter. Jones Financial Companies Lllp now owns 11,523 shares of the company’s stock worth $335,000 after buying an additional 1,083 shares during the last quarter. Bank of America Corp DE purchased a new position in Fidelity Magellan ETF during the 2nd quarter worth $310,000. Finally, Jane Street Group LLC purchased a new position in Fidelity Magellan ETF during the 4th quarter worth $280,000.

Fidelity Magellan ETF Stock Performance

FMAG stock opened at $35.97 on Thursday. The stock has a market capitalization of $265.46 million, a PE ratio of 34.77 and a beta of 1.13. The company has a fifty day moving average of $36.15 and a 200-day moving average of $34.61. Fidelity Magellan ETF has a one year low of $30.49 and a one year high of $37.19.

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.