Fidelity Magellan ETF (BATS:FMAG) Short Interest Update

Fidelity Magellan ETF (BATS:FMAG) was the recipient of a large 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 trading volume of 17,438 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the company’s stock are sold short.

Fidelity Magellan ETF Stock Performance

FMAG stock opened at $36.03 on Friday. Fidelity Magellan ETF has a fifty-two week low of $30.49 and a fifty-two week high of $37.19. The business’s 50 day moving average price is $35.44 and its two-hundred day moving average price is $34.34. The company has a market capitalization of $265.90 million, a price-to-earnings ratio of 34.77 and a beta of 1.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in shares of Fidelity Magellan ETF by 10.4% during the 1st quarter. Jones Financial Companies Lllp now owns 11,523 shares of the company’s stock worth $335,000 after acquiring an additional 1,083 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of Fidelity Magellan ETF by 18.9% during the 3rd 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 during the period. MWA Asset Management purchased a new stake in shares of Fidelity Magellan ETF in the 1st quarter worth approximately $63,000. Osaic Holdings Inc. purchased a new stake in shares of Fidelity Magellan ETF in the 2nd quarter worth approximately $74,000. Finally, Sigma Planning Corp grew its stake 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 worth $1,394,000 after buying an additional 2,343 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.