Fidelity Magellan ETF (BATS:FMAG) Short Interest Update

Fidelity Magellan ETF (BATS:FMAG) was the target of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 6,687 shares, a growth of 119.2% from the May 14th total of 3,051 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 17,438 shares, the short-interest ratio is presently 0.4 days.

Fidelity Magellan ETF Price Performance

FMAG opened at $36.03 on Friday. The business has a 50 day simple moving average of $35.44 and a two-hundred day simple moving average of $34.34. The firm has a market capitalization of $265.90 million, a price-to-earnings ratio of 34.77 and a beta of 1.13. Fidelity Magellan ETF has a one year low of $30.49 and a one year high of $37.19.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in shares of Fidelity Magellan ETF by 13.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 138,357 shares of the company’s stock worth $4,872,000 after acquiring an additional 16,499 shares during the period. Osaic Holdings Inc. purchased a new position in shares of Fidelity Magellan ETF during the 2nd quarter worth approximately $74,000. JPMorgan Chase & Co. purchased a new position in shares of Fidelity Magellan ETF during the 3rd quarter worth approximately $257,000. Integrated Wealth Concepts LLC grew its holdings in shares of Fidelity Magellan ETF by 18.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,780 shares of the company’s stock worth $274,000 after acquiring an additional 1,239 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Fidelity Magellan ETF by 5.0% during the 4th quarter. Wells Fargo & Company MN now owns 984,395 shares of the company’s stock worth $33,597,000 after acquiring an additional 47,079 shares during the period.

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.