Fidelity Magellan ETF (BATS:FMAG) Shares Shorted: Short Interest Up 305.9% in October

Fidelity Magellan ETF (BATS:FMAG) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totaling 1,380 shares, a growth of 305.9% from the September 30th total of 340 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 14,631 shares, the days-to-cover ratio is presently 0.1 days.

Fidelity Magellan ETF Price Performance

Fidelity Magellan ETF stock opened at $35.10 on Friday. The firm has a market cap of $259.04 million, a PE ratio of 34.77 and a beta of 1.13. The stock’s fifty day moving average price is $35.84 and its two-hundred day moving average price is $35.16. Fidelity Magellan ETF has a one year low of $30.49 and a one year high of $37.58.

Institutional Investors Weigh In On Fidelity Magellan ETF

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sigma Planning Corp acquired a new position in shares of Fidelity Magellan ETF in the 3rd quarter valued at approximately $2,077,000. Envestnet Asset Management Inc. increased its stake in Fidelity Magellan ETF by 3.1% in the second quarter. Envestnet Asset Management Inc. now owns 100,620 shares of the company’s stock valued at $3,700,000 after acquiring an additional 3,028 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Fidelity Magellan ETF in the second quarter valued at approximately $196,000. Citadel Advisors LLC acquired a new position in Fidelity Magellan ETF during the second quarter valued at approximately $253,000. Finally, Arkadios Wealth Advisors raised its position in Fidelity Magellan ETF by 14.1% during the first quarter. Arkadios Wealth Advisors now owns 220,450 shares of the company’s stock valued at $6,971,000 after purchasing an additional 27,299 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.