Fidelity Magellan ETF (BATS:FMAG) Stock Price Up 4.8% – Here’s What Happened

Fidelity Magellan ETF (BATS:FMAG)’s share price was up 4.8% during mid-day trading on Monday . The company traded as high as $31.83 and last traded at $32.55. Approximately 199,009 shares changed hands during trading, The stock had previously closed at $31.05.

Fidelity Magellan ETF Price Performance

The firm’s fifty day simple moving average is $31.90 and its 200 day simple moving average is $31.00. The company has a market capitalization of $108.39 million, a price-to-earnings ratio of 0.86 and a beta of 1.13.

Institutional Investors Weigh In On Fidelity Magellan ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC increased its position in Fidelity Magellan ETF by 59.9% in the 4th quarter. Citadel Advisors LLC now owns 23,805 shares of the company’s stock valued at $737,000 after acquiring an additional 8,915 shares in the last quarter. FIL Ltd lifted its stake in shares of Fidelity Magellan ETF by 408.1% in the 4th quarter. FIL Ltd now owns 344,801 shares of the company’s stock valued at $10,668,000 after purchasing an additional 276,936 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Fidelity Magellan ETF by 71.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 88,773 shares of the company’s stock valued at $2,747,000 after purchasing an additional 37,030 shares during the period. Wells Fargo & Company MN boosted its position in shares of Fidelity Magellan ETF by 2,430.2% in the 4th quarter. Wells Fargo & Company MN now owns 469,548 shares of the company’s stock worth $14,528,000 after purchasing an additional 450,990 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Fidelity Magellan ETF by 8.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 42,571 shares of the company’s stock valued at $1,317,000 after purchasing an additional 3,292 shares during 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.