Fidelity Magellan ETF (BATS:FMAG) Trading 0.3% Higher – What’s Next?

Shares of Fidelity Magellan ETF (BATS:FMAG) traded up 0.3% during mid-day trading on Thursday . The stock traded as high as $36.03 and last traded at $36.03. 7,963 shares were traded during trading, a decline of 74% from the average session volume of 30,391 shares. The stock had previously closed at $35.91.

Fidelity Magellan ETF Price Performance

The company has a 50 day simple moving average of $34.14 and a 200-day simple moving average of $34.11. The stock has a market cap of $266.42 million, a P/E ratio of 34.77 and a beta of 1.13.

Institutional Investors Weigh In On Fidelity Magellan ETF

Several hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC bought a new stake in shares of Fidelity Magellan ETF in the 1st quarter valued at about $261,000. Jones Financial Companies Lllp lifted its stake in shares of Fidelity Magellan ETF by 10.4% in the 1st quarter. Jones Financial Companies Lllp now owns 11,523 shares of the company’s stock valued at $335,000 after acquiring an additional 1,083 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Fidelity Magellan ETF in the 2nd quarter valued at about $310,000. Osaic Holdings Inc. bought a new stake in shares of Fidelity Magellan ETF in the 2nd quarter valued at about $74,000. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of Fidelity Magellan ETF in the 3rd quarter valued at about $2,220,000.

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.