Fidelity Magellan ETF (BATS:FMAG) Trading Down 0.1%

Fidelity Magellan ETF (BATS:FMAG) dropped 0.1% during trading on Wednesday . The company traded as low as $27.74 and last traded at $27.85. Approximately 46,842 shares changed hands during trading, The stock had previously closed at $27.88.

Fidelity Magellan ETF Trading Down 0.1 %

The stock has a market capitalization of $92.74 million, a P/E ratio of 0.86 and a beta of 1.13. The stock’s 50-day moving average price is $27.55 and its two-hundred day moving average price is $25.26.

Institutional Trading of Fidelity Magellan ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Securities Inc. purchased a new position in shares of Fidelity Magellan ETF during the fourth quarter worth approximately $48,000. J.W. Cole Advisors Inc. bought a new position in shares of Fidelity Magellan ETF during the first quarter valued at approximately $1,822,000. Finally, Beam Wealth Advisors Inc. lifted its holdings in shares of Fidelity Magellan ETF by 5.9% during the fourth quarter. Beam Wealth Advisors Inc. now owns 140,502 shares of the company’s stock valued at $3,387,000 after purchasing an additional 7,787 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.