Fidelity Magellan ETF (BATS:FMAG – Get Free Report) shares fell 1% during mid-day trading on Tuesday . The company traded as low as $35.04 and last traded at $34.79. 37,282 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 58,325 shares. The stock had previously closed at $35.13.
Fidelity Magellan ETF Trading Down 1.0%
The stock has a fifty day moving average price of $35.05 and a 200-day moving average price of $33.02. The firm has a market capitalization of $256.78 million, a price-to-earnings ratio of 34.77 and a beta of 1.13.
Hedge Funds Weigh In On Fidelity Magellan ETF
Hedge funds have recently modified their holdings of the stock. Arkadios Wealth Advisors acquired a new stake in Fidelity Magellan ETF during the 1st quarter valued at $3,935,000. Impact Partnership Wealth LLC increased its holdings in Fidelity Magellan ETF by 7.3% during the 1st quarter. Impact Partnership Wealth LLC now owns 10,853 shares of the company’s stock valued at $316,000 after purchasing an additional 739 shares in the last quarter. Summit X LLC increased its holdings in Fidelity Magellan ETF by 105.2% during the 1st quarter. Summit X LLC now owns 30,274 shares of the company’s stock valued at $880,000 after purchasing an additional 15,517 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Fidelity Magellan ETF by 27.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 115,465 shares of the company’s stock valued at $3,358,000 after purchasing an additional 24,981 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Fidelity Magellan ETF by 26.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 112,105 shares of the company’s stock valued at $3,260,000 after purchasing an additional 23,332 shares in the last quarter.
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.
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