PNC Financial Services Group Inc. Acquires 38,731 Shares of Fidelity Magellan ETF (BATS:FMAG)

PNC Financial Services Group Inc. increased its holdings in Fidelity Magellan ETF (BATS:FMAG) by 74.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,484 shares of the company’s stock after purchasing an additional 38,731 shares during the quarter. PNC Financial Services Group Inc. owned approximately 2.72% of Fidelity Magellan ETF worth $2,800,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FMAG. Impact Partnership Wealth LLC acquired a new position in shares of Fidelity Magellan ETF in the 4th quarter worth approximately $313,000. Jones Financial Companies Lllp bought a new position in Fidelity Magellan ETF during the fourth quarter worth $323,000. Finally, Sigma Planning Corp lifted its holdings in Fidelity Magellan ETF by 24.9% in the third quarter. Sigma Planning Corp now owns 15,601 shares of the company’s stock valued at $478,000 after buying an additional 3,114 shares during the period.

Fidelity Magellan ETF Trading Down 4.8 %

Shares of FMAG opened at $29.56 on Friday. The firm’s fifty day simple moving average is $31.51 and its two-hundred day simple moving average is $31.17. Fidelity Magellan ETF has a 12 month low of $26.42 and a 12 month high of $33.09. The stock has a market capitalization of $197.45 million, a P/E ratio of 0.97 and a beta of 1.12.

Fidelity Magellan ETF 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.