Fidelity Magellan ETF (BATS:FMAG) Short Interest Down 56.3% in July

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

Fidelity Magellan ETF Stock Performance

Shares of FMAG opened at $35.13 on Tuesday. Fidelity Magellan ETF has a 1 year low of $30.49 and a 1 year high of $37.19. The stock has a market capitalization of $259.26 million, a PE ratio of 34.77 and a beta of 1.13. The stock has a 50-day simple moving average of $36.13 and a 200-day simple moving average of $34.74.

Institutional Investors Weigh In On Fidelity Magellan ETF

A number of large investors have recently modified their holdings of FMAG. MWA Asset Management acquired a new stake in shares of Fidelity Magellan ETF in the 1st quarter valued at $63,000. Osaic Holdings Inc. acquired a new position in shares of Fidelity Magellan ETF during the second quarter worth $74,000. LPL Financial LLC acquired a new position in shares of Fidelity Magellan ETF during the fourth quarter worth $222,000. JPMorgan Chase & Co. purchased a new position in Fidelity Magellan ETF in the third quarter valued at $257,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Fidelity Magellan ETF in the first quarter valued at $261,000.

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.