Fidelity Magellan ETF (BATS:FMAG) Shares Shorted: Short Interest Up 163.0% in September

Fidelity Magellan ETF (BATS:FMAG) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 67,024 shares, a growth of 163.0% from the August 31st total of 25,484 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 18,252 shares, the days-to-cover ratio is presently 3.7 days.

Institutional Trading of Fidelity Magellan ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MWA Asset Management bought a new position in Fidelity Magellan ETF during the 1st quarter worth approximately $63,000. Integrated Wealth Concepts LLC bought a new stake in shares of Fidelity Magellan ETF in the 2nd quarter valued at $196,000. Citadel Advisors LLC acquired a new stake in shares of Fidelity Magellan ETF during the second quarter worth $253,000. Cetera Investment Advisers increased its position in shares of Fidelity Magellan ETF by 66.3% during the first quarter. Cetera Investment Advisers now owns 28,808 shares of the company’s stock worth $911,000 after buying an additional 11,489 shares during the period. Finally, Kestra Advisory Services LLC raised its stake in Fidelity Magellan ETF by 15.5% during the first quarter. Kestra Advisory Services LLC now owns 40,172 shares of the company’s stock worth $1,270,000 after buying an additional 5,381 shares during the last quarter.

Fidelity Magellan ETF Stock Performance

Shares of FMAG stock opened at $36.39 on Monday. The stock has a market cap of $268.56 million, a price-to-earnings ratio of 34.77 and a beta of 1.13. The stock has a 50-day moving average of $36.00 and a 200-day moving average of $35.38. Fidelity Magellan ETF has a 1-year low of $30.49 and a 1-year high of $37.58.

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.