Fidelity Magellan ETF (BATS:FMAG) Trading 0.9% Higher – Here’s What Happened

Fidelity Magellan ETF (BATS:FMAG)’s share price rose 0.9% during mid-day trading on Friday . The company traded as high as $36.07 and last traded at $36.03. Approximately 18,185 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 28,938 shares. The stock had previously closed at $35.72.

Fidelity Magellan ETF Trading Up 0.9%

The business’s 50-day moving average price is $35.44 and its 200-day moving average price is $34.34. The stock has a market cap of $265.90 million, a PE ratio of 34.77 and a beta of 1.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its position 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 buying an additional 47,079 shares during the last quarter. Arkadios Wealth Advisors grew its position in Fidelity Magellan ETF by 14.1% during the 1st quarter. Arkadios Wealth Advisors now owns 220,450 shares of the company’s stock worth $6,971,000 after purchasing an additional 27,299 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Fidelity Magellan ETF by 13.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 138,357 shares of the company’s stock worth $4,872,000 after purchasing an additional 16,499 shares during the last quarter. UBS Group AG grew its position in Fidelity Magellan ETF by 23.8% during the 4th quarter. UBS Group AG now owns 64,861 shares of the company’s stock worth $2,214,000 after purchasing an additional 12,467 shares during the last quarter. Finally, Sigma Planning Corp grew its position in Fidelity Magellan ETF by 15.6% during the 1st quarter. Sigma Planning Corp now owns 47,198 shares of the company’s stock worth $1,492,000 after purchasing an additional 6,352 shares during the last quarter.

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.