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

Fidelity Magellan ETF (BATS:FMAG) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 67,024 shares, an increase of 163.0% from the August 31st total of 25,484 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 18,252 shares, the short-interest ratio is currently 3.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. MWA Asset Management bought a new stake in shares of Fidelity Magellan ETF during the first quarter valued at about $63,000. Integrated Wealth Concepts LLC bought a new position in Fidelity Magellan ETF in the 2nd quarter valued at about $196,000. Citadel Advisors LLC acquired a new position in Fidelity Magellan ETF during the 2nd quarter valued at about $253,000. Cetera Investment Advisers raised its position in shares of Fidelity Magellan ETF by 66.3% during the 1st quarter. Cetera Investment Advisers now owns 28,808 shares of the company’s stock worth $911,000 after buying an additional 11,489 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its position in shares of Fidelity Magellan ETF by 15.5% during the 1st quarter. Kestra Advisory Services LLC now owns 40,172 shares of the company’s stock worth $1,270,000 after buying an additional 5,381 shares in the last quarter.

Fidelity Magellan ETF Price Performance

FMAG opened at $36.17 on Tuesday. Fidelity Magellan ETF has a 12 month low of $30.49 and a 12 month high of $37.58. The stock has a market cap of $266.93 million, a P/E ratio of 34.77 and a beta of 1.13. The stock’s 50 day moving average price is $36.02 and its 200 day moving average price is $35.40.

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.