Arkadios Wealth Advisors Increases Position in Fidelity Magellan ETF $FMAG

Arkadios Wealth Advisors boosted its holdings in Fidelity Magellan ETF (BATS:FMAG) by 13.2% in the third quarter, HoldingsChannel reports. The firm owned 161,201 shares of the company’s stock after purchasing an additional 18,749 shares during the period. Arkadios Wealth Advisors’ holdings in Fidelity Magellan ETF were worth $5,676,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Osaic Holdings Inc. purchased a new stake in Fidelity Magellan ETF during the 2nd quarter worth approximately $74,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Fidelity Magellan ETF during the first quarter worth approximately $261,000. Bank of America Corp DE bought a new stake in shares of Fidelity Magellan ETF in the second quarter worth $310,000. Jones Financial Companies Lllp raised its holdings in Fidelity Magellan ETF by 10.4% in the first quarter. Jones Financial Companies Lllp now owns 11,523 shares of the company’s stock valued at $335,000 after acquiring an additional 1,083 shares in the last quarter. Finally, Sigma Planning Corp boosted its stake in Fidelity Magellan ETF by 24.7% during the 2nd quarter. Sigma Planning Corp now owns 31,728 shares of the company’s stock valued at $1,089,000 after acquiring an additional 6,279 shares during the last quarter.

Fidelity Magellan ETF Price Performance

Shares of FMAG stock opened at $33.92 on Wednesday. The firm has a fifty day moving average of $34.24 and a two-hundred day moving average of $34.67. The firm has a market cap of $250.31 million, a P/E ratio of 34.77 and a beta of 1.13. Fidelity Magellan ETF has a 1-year low of $25.24 and a 1-year high of $35.16.

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.