Fidelity Magellan ETF (BATS:FMAG) Short Interest Down 56.3% in July

Fidelity Magellan ETF (BATS:FMAG) was the target of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 3,784 shares, a decrease of 56.3% from the June 30th total of 8,666 shares. Based on an average daily volume of 23,223 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp raised 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 period. Integrated Wealth Concepts LLC boosted its position 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 purchasing an additional 1,239 shares during the period. MWA Asset Management purchased a new position in shares of Fidelity Magellan ETF during the 1st quarter worth approximately $63,000. Osaic Holdings Inc. acquired a new stake in Fidelity Magellan ETF in the 2nd quarter valued at approximately $74,000. Finally, Sigma Planning Corp increased its holdings in Fidelity Magellan ETF by 6.1% in the 4th quarter. Sigma Planning Corp now owns 40,846 shares of the company’s stock valued at $1,394,000 after purchasing an additional 2,343 shares during the last quarter.

Fidelity Magellan ETF Trading Down 0.3%

BATS FMAG opened at $35.13 on Tuesday. The stock has a fifty day simple moving average of $36.13 and a 200-day simple moving average of $34.74. The stock has a market cap of $259.26 million, a PE ratio of 34.77 and a beta of 1.13. Fidelity Magellan ETF has a twelve month low of $30.49 and a twelve month high of $37.19.

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.