Fidelity Magellan ETF (BATS:FMAG – Get Free Report) was the recipient of a large increase in short interest in October. As of October 30th, there was short interest totaling 3,580 shares, an increase of 159.4% from the October 15th total of 1,380 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 13,308 shares, the days-to-cover ratio is currently 0.3 days.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMAG. Sigma Planning Corp acquired a new stake in shares of Fidelity Magellan ETF during the 3rd quarter valued at about $2,077,000. Arkadios Wealth Advisors increased its stake in shares of Fidelity Magellan ETF by 14.1% in the 1st quarter. Arkadios Wealth Advisors now owns 220,450 shares of the company’s stock valued at $6,971,000 after purchasing an additional 27,299 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of Fidelity Magellan ETF by 76.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 40,637 shares of the company’s stock valued at $1,469,000 after purchasing an additional 17,663 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in shares of Fidelity Magellan ETF in the 3rd quarter valued at about $1,022,000. Finally, Envestnet Asset Management Inc. raised its holdings in Fidelity Magellan ETF by 3.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 100,620 shares of the company’s stock worth $3,700,000 after purchasing an additional 3,028 shares during the period.
Fidelity Magellan ETF Stock Performance
Shares of FMAG traded down $0.35 during trading hours on Friday, hitting $34.27. The stock had a trading volume of 62,686 shares, compared to its average volume of 23,891. The firm has a 50-day moving average price of $35.45 and a 200 day moving average price of $35.14. Fidelity Magellan ETF has a fifty-two week low of $30.49 and a fifty-two week high of $37.58. The firm has a market capitalization of $228.92 million, a price-to-earnings ratio of 25.14 and a beta of 1.12.
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.
See Also
- Five stocks we like better than Fidelity Magellan ETF
- Intuitive Machines’ Business Is Taking Off—Will Its Stock Follow?
- The Next Big Thing May Not Be One Thing: Inside Lazard’s Megatrends ETF
- 3 Power and Grid Stocks That Could Keep Growing Even if AI Spending Slows
- Applied Materials Beats and Raises, But Investors Stay Unconvinced
Receive News & Ratings for Fidelity Magellan ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fidelity Magellan ETF and related companies with MarketBeat.com's FREE daily email newsletter.
