Fidelity Magellan ETF (BATS:FMAG) Stock Price Up 0.9% – Still a Buy?
by Kim Johansen · The Markets DailyFidelity Magellan ETF (BATS:FMAG – Get Free Report) rose 0.9% during trading on Friday . The company traded as high as $36.07 and last traded at $36.03. Approximately 18,185 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 28,938 shares. The stock had previously closed at $35.72.
Fidelity Magellan ETF Trading Up 0.9%
The stock has a market capitalization of $265.90 million, a PE ratio of 34.77 and a beta of 1.13. The firm has a 50-day moving average price of $35.44 and a 200-day moving average price of $34.34.
Institutional Investors Weigh In On Fidelity Magellan ETF
Several large investors have recently made changes to their positions in the business. Arkadios Wealth Advisors increased its position in shares of Fidelity Magellan ETF by 14.1% during the 1st quarter. Arkadios Wealth Advisors now owns 220,450 shares of the company’s stock valued at $6,971,000 after purchasing an additional 27,299 shares during the last quarter. MWA Asset Management bought a new position in Fidelity Magellan ETF in the 1st quarter worth about $63,000. Cetera Investment Advisers boosted its stake in Fidelity Magellan ETF by 66.3% in the 1st quarter. Cetera Investment Advisers now owns 28,808 shares of the company’s stock worth $911,000 after purchasing an additional 11,489 shares during the period. Sigma Planning Corp boosted its stake in Fidelity Magellan ETF by 15.6% in the 1st quarter. Sigma Planning Corp now owns 47,198 shares of the company’s stock worth $1,492,000 after purchasing an additional 6,352 shares during the period. Finally, Kestra Advisory Services LLC boosted its stake in Fidelity Magellan ETF by 15.5% in the 1st quarter. Kestra Advisory Services LLC now owns 40,172 shares of the company’s stock worth $1,270,000 after purchasing an additional 5,381 shares during the period.
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.