Short Interest in Fidelity Magellan ETF (BATS:FMAG) Decreases By 56.3%

Fidelity Magellan ETF (BATS:FMAG) saw a large decline in short interest in July. As of July 15th, there was short interest totaling 3,784 shares, a decline of 56.3% from the June 30th total of 8,666 shares. Based on an average daily volume of 23,223 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On Fidelity Magellan ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors grew its stake in Fidelity Magellan ETF by 14.1% during the first quarter. Arkadios Wealth Advisors now owns 220,450 shares of the company’s stock worth $6,971,000 after buying an additional 27,299 shares during the last quarter. MWA Asset Management bought a new position in shares of Fidelity Magellan ETF in the first quarter valued at approximately $63,000. Cetera Investment Advisers raised its stake in shares of Fidelity Magellan ETF by 66.3% in the first quarter. Cetera Investment Advisers now owns 28,808 shares of the company’s stock valued at $911,000 after acquiring an additional 11,489 shares during the last quarter. Sigma Planning Corp boosted its holdings in shares of Fidelity Magellan ETF by 15.6% in the 1st quarter. Sigma Planning Corp now owns 47,198 shares of the company’s stock worth $1,492,000 after acquiring an additional 6,352 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in shares of Fidelity Magellan ETF by 15.5% in the 1st quarter. Kestra Advisory Services LLC now owns 40,172 shares of the company’s stock worth $1,270,000 after acquiring an additional 5,381 shares in the last quarter.

Fidelity Magellan ETF Stock Performance

FMAG opened at $34.15 on Thursday. The firm’s 50-day simple moving average is $36.09 and its 200-day simple moving average is $34.74. Fidelity Magellan ETF has a twelve month low of $30.49 and a twelve month high of $37.19. The firm has a market cap of $252.03 million, a price-to-earnings ratio of 34.77 and a beta of 1.13.

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.