Beam Wealth Advisors Inc. Buys 7,787 Shares of Fidelity Magellan ETF (BATS:FMAG)

Beam Wealth Advisors Inc. raised its stake in Fidelity Magellan ETF (BATS:FMAG) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,502 shares of the company’s stock after acquiring an additional 7,787 shares during the quarter. Fidelity Magellan ETF makes up approximately 2.1% of Beam Wealth Advisors Inc.’s investment portfolio, making the stock its 12th largest position. Beam Wealth Advisors Inc. owned 6.24% of Fidelity Magellan ETF worth $3,387,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. UBS Group AG increased its stake in shares of Fidelity Magellan ETF by 88.3% in the fourth quarter. UBS Group AG now owns 1,691 shares of the company’s stock valued at $31,000 after buying an additional 793 shares during the period. Susquehanna International Group LLP acquired a new position in shares of Fidelity Magellan ETF in the first quarter valued at approximately $380,000. Royal Bank of Canada increased its stake in shares of Fidelity Magellan ETF by 23.9% in the third quarter. Royal Bank of Canada now owns 23,231 shares of the company’s stock valued at $408,000 after buying an additional 4,483 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in shares of Fidelity Magellan ETF by 15.2% in the first quarter. Commonwealth Equity Services LLC now owns 23,913 shares of the company’s stock valued at $478,000 after buying an additional 3,151 shares during the period.

Fidelity Magellan ETF Stock Up 0.3 %

Shares of Fidelity Magellan ETF stock traded up $0.09 on Wednesday, hitting $27.32. The stock had a trading volume of 47,853 shares. The stock has a market capitalization of $61.47 million, a price-to-earnings ratio of 0.69 and a beta of 1.14. The company has a fifty day moving average of $27.37 and a 200 day moving average of $24.67.

Fidelity Magellan ETF 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.