Fidelity Magellan ETF (BATS:FMAG) Stock Price Up 0.1% – Here’s What Happened

Fidelity Magellan ETF (BATS:FMAG)’s share price rose 0.1% during mid-day trading on Monday . The company traded as high as $31.37 and last traded at $31.32. Approximately 51,140 shares changed hands during trading, The stock had previously closed at $31.30.

Fidelity Magellan ETF Trading Down 0.9 %

The company’s fifty day simple moving average is $30.20 and its 200 day simple moving average is $29.20. The firm has a market capitalization of $102.76 million, a P/E ratio of 0.86 and a beta of 1.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its holdings in Fidelity Magellan ETF by 9.2% in the second quarter. Commonwealth Equity Services LLC now owns 24,876 shares of the company’s stock worth $738,000 after purchasing an additional 2,104 shares during the period. Elevation Capital Advisory LLC purchased a new position in shares of Fidelity Magellan ETF in the 2nd quarter worth about $265,000. J.W. Cole Advisors Inc. purchased a new stake in Fidelity Magellan ETF during the 1st quarter valued at about $1,822,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Fidelity Magellan ETF during the 2nd quarter valued at about $3,258,000.

About Fidelity Magellan ETF

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.