Fidelity Magellan ETF (BATS:FMAG) Short Interest Update

Fidelity Magellan ETF (BATS:FMAG) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 25,484 shares, an increase of 57.0% from the August 15th total of 16,227 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 19,699 shares, the days-to-cover ratio is presently 1.3 days.

Fidelity Magellan ETF Price Performance

Fidelity Magellan ETF stock opened at $34.80 on Thursday. Fidelity Magellan ETF has a 1-year low of $30.49 and a 1-year high of $37.58. The firm has a market capitalization of $256.82 million, a P/E ratio of 34.77 and a beta of 1.13. The company’s 50-day moving average is $36.02 and its 200 day moving average is $35.25.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FMAG. Integrated Wealth Concepts LLC purchased a new stake in Fidelity Magellan ETF during the second quarter worth approximately $196,000. Citadel Advisors LLC acquired a new stake in Fidelity Magellan ETF during the second quarter worth approximately $253,000. Arkadios Wealth Advisors lifted its position in shares of 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 buying an additional 27,299 shares during the last quarter. MWA Asset Management purchased a new stake in shares of Fidelity Magellan ETF during the 1st quarter worth approximately $63,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Fidelity Magellan ETF by 66.3% in the 1st quarter. Cetera Investment Advisers now owns 28,808 shares of the company’s stock valued at $911,000 after buying an additional 11,489 shares in 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.