Fidelity Magellan ETF (BATS:FMAG) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Fidelity Magellan ETF (BATS:FMAG) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $35.16 and traded as high as $35.31. Fidelity Magellan ETF shares last traded at $35.25, with a volume of 8,931 shares.

Fidelity Magellan ETF Price Performance

The business’s 50-day moving average price is $35.80 and its two-hundred day moving average price is $35.16. The firm has a market cap of $252.54 million, a price-to-earnings ratio of 34.77 and a beta of 1.13.

Institutional Trading of Fidelity Magellan ETF

Hedge funds have recently bought and sold shares of the company. Sigma Planning Corp acquired a new stake in shares of Fidelity Magellan ETF during the third quarter worth $2,077,000. Envestnet Asset Management Inc. increased its stake in Fidelity Magellan ETF by 3.1% in the second quarter. Envestnet Asset Management Inc. now owns 100,620 shares of the company’s stock valued at $3,700,000 after purchasing an additional 3,028 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Fidelity Magellan ETF in the second quarter valued at $196,000. Citadel Advisors LLC purchased a new position in Fidelity Magellan ETF during the second quarter worth about $253,000. Finally, Arkadios Wealth Advisors lifted its position in Fidelity Magellan ETF by 14.1% during the first quarter. Arkadios Wealth Advisors now owns 220,450 shares of the company’s stock worth $6,971,000 after buying an additional 27,299 shares during the period.

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.