Fidelity Magellan ETF (BATS:FMAG) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Fidelity Magellan ETF (BATS:FMAG)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.86 and traded as high as $31.77. Fidelity Magellan ETF shares last traded at $31.63, with a volume of 33,781 shares changing hands.

Fidelity Magellan ETF Stock Up 0.2 %

The company has a 50 day simple moving average of $31.01 and a two-hundred day simple moving average of $29.86. The company has a market capitalization of $105.33 million, a P/E ratio of 0.86 and a beta of 1.13.

Institutional Investors Weigh In On Fidelity Magellan ETF

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in Fidelity Magellan ETF by 344.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 51,753 shares of the company’s stock valued at $1,585,000 after acquiring an additional 40,098 shares during the last quarter. Beam Wealth Advisors Inc. lifted its position in shares of Fidelity Magellan ETF by 4.6% during the third quarter. Beam Wealth Advisors Inc. now owns 125,866 shares of the company’s stock worth $3,854,000 after purchasing an additional 5,503 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of Fidelity Magellan ETF by 24.9% during the third quarter. Sigma Planning Corp now owns 15,601 shares of the company’s stock valued at $478,000 after purchasing an additional 3,114 shares during the period. Arkadios Wealth Advisors bought a new position in shares of Fidelity Magellan ETF in the third quarter worth about $3,250,000. Finally, Elevation Capital Advisory LLC purchased a new position in Fidelity Magellan ETF in the 2nd quarter worth about $265,000.

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.