Fidelity Magellan ETF (BATS:FMAG) Stock Price Up 0.5% – Still a Buy?

Fidelity Magellan ETF (BATS:FMAG) rose 0.5% on Tuesday . The stock traded as high as $32.27 and last traded at $32.27. Approximately 27,248 shares were traded during trading, a decline of 20% from the average daily volume of 34,225 shares. The stock had previously closed at $32.10.

Fidelity Magellan ETF Stock Up 0.5%

The company has a market capitalization of $238.15 million, a P/E ratio of 34.77 and a beta of 1.13. The company has a 50-day moving average of $33.04 and a two-hundred day moving average of $34.01.

Institutional Investors Weigh In On Fidelity Magellan ETF

Several hedge funds have recently made changes to their positions in FMAG. Osaic Holdings Inc. bought a new stake in shares of Fidelity Magellan ETF during the second quarter valued at approximately $74,000. LPL Financial LLC bought a new stake in Fidelity Magellan ETF in the fourth quarter worth $222,000. JPMorgan Chase & Co. bought a new stake in Fidelity Magellan ETF in the third quarter worth $257,000. Integrated Wealth Concepts LLC bought a new stake in Fidelity Magellan ETF in the first quarter worth $261,000. Finally, Jane Street Group LLC bought a new stake in Fidelity Magellan ETF in the fourth quarter worth $280,000.

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.