Fidelity Magellan ETF (BATS:FMAG) Shares Up 0.2% – Here’s Why

Fidelity Magellan ETF (BATS:FMAG) was up 0.2% during trading on Wednesday . The stock traded as high as $35.97 and last traded at $35.97. Approximately 8,042 shares traded hands during trading, a decline of 71% from the average session volume of 28,135 shares. The stock had previously closed at $35.91.

Fidelity Magellan ETF Stock Up 0.2%

The stock has a market capitalization of $265.46 million, a P/E ratio of 34.77 and a beta of 1.13. The stock has a 50 day simple moving average of $36.15 and a two-hundred day simple moving average of $34.61.

Hedge Funds Weigh In On Fidelity Magellan ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its holdings in Fidelity Magellan ETF by 10.4% during the first quarter. Jones Financial Companies Lllp now owns 11,523 shares of the company’s stock worth $335,000 after buying an additional 1,083 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in Fidelity Magellan ETF by 18.9% during the third quarter. Integrated Wealth Concepts LLC now owns 7,780 shares of the company’s stock worth $274,000 after acquiring an additional 1,239 shares in the last quarter. MWA Asset Management acquired a new stake in Fidelity Magellan ETF in the first quarter valued at $63,000. Osaic Holdings Inc. acquired a new stake in Fidelity Magellan ETF in the second quarter valued at $74,000. Finally, Sigma Planning Corp grew its position in shares of Fidelity Magellan ETF by 6.1% in the 4th quarter. Sigma Planning Corp now owns 40,846 shares of the company’s stock valued at $1,394,000 after acquiring an additional 2,343 shares during the period.

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.