Short Interest in Fidelity Magellan ETF (BATS:FMAG) Increases By 119.2%

Fidelity Magellan ETF (BATS:FMAG) was the recipient of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 6,687 shares, a growth of 119.2% from the May 14th total of 3,051 shares. Based on an average daily volume of 17,438 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the company’s stock are sold short.

Fidelity Magellan ETF Trading Up 0.9%

Shares of BATS FMAG opened at $36.03 on Friday. The firm’s 50-day moving average price is $35.44 and its 200-day moving average price is $34.34. Fidelity Magellan ETF has a 1-year low of $30.49 and a 1-year high of $37.19. The firm has a market capitalization of $265.90 million, a P/E ratio of 34.77 and a beta of 1.13.

Institutional Investors Weigh In On Fidelity Magellan ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in shares of Fidelity Magellan ETF by 5.0% in the 4th quarter. Wells Fargo & Company MN now owns 984,395 shares of the company’s stock worth $33,597,000 after acquiring an additional 47,079 shares during the last quarter. Arkadios Wealth Advisors raised its holdings 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 worth $6,971,000 after acquiring an additional 27,299 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Fidelity Magellan ETF by 13.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 138,357 shares of the company’s stock worth $4,872,000 after acquiring an additional 16,499 shares during the last quarter. UBS Group AG raised its holdings in shares of Fidelity Magellan ETF by 23.8% in the 4th quarter. UBS Group AG now owns 64,861 shares of the company’s stock worth $2,214,000 after acquiring an additional 12,467 shares during the last quarter. Finally, Sigma Planning Corp raised 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 during the last quarter.

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.