Royal Bank of Canada cut its stake in Fidelity Magellan ETF (BATS:FMAG – Free Report) by 67.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,501 shares of the company’s stock after selling 17,254 shares during the quarter. Royal Bank of Canada owned 0.12% of Fidelity Magellan ETF worth $269,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new position in Fidelity Magellan ETF during the first quarter valued at approximately $261,000. Jones Financial Companies Lllp grew its position in Fidelity Magellan ETF by 10.4% in the 1st quarter. Jones Financial Companies Lllp now owns 11,523 shares of the company’s stock worth $335,000 after purchasing an additional 1,083 shares during the period. Bank of America Corp DE purchased a new stake in Fidelity Magellan ETF during the 2nd quarter valued at $310,000. Osaic Holdings Inc. bought a new position in shares of Fidelity Magellan ETF during the 2nd quarter valued at $74,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Fidelity Magellan ETF during the 3rd quarter valued at $257,000.
Fidelity Magellan ETF Price Performance
FMAG stock opened at $36.42 on Friday. Fidelity Magellan ETF has a 1 year low of $30.49 and a 1 year high of $37.58. The company has a market cap of $268.78 million, a P/E ratio of 34.77 and a beta of 1.13. The stock’s fifty day moving average price is $36.17 and its 200-day moving average price is $35.07.
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.
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