Fidelity Magellan ETF $FMAG Position Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of Fidelity Magellan ETF (BATS:FMAG) by 23.0% in the first quarter, HoldingsChannel reports. The firm owned 105,111 shares of the company’s stock after selling 31,458 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Fidelity Magellan ETF were worth $3,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in FMAG. MWA Asset Management acquired a new stake in Fidelity Magellan ETF in the first quarter worth $63,000. Osaic Holdings Inc. acquired a new position in shares of Fidelity Magellan ETF during the second quarter valued at $74,000. LPL Financial LLC acquired a new position in shares of Fidelity Magellan ETF during the fourth quarter valued at $222,000. JPMorgan Chase & Co. acquired a new position in shares of Fidelity Magellan ETF during the third quarter valued at $257,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Fidelity Magellan ETF during the first quarter worth about $261,000.

Fidelity Magellan ETF Stock Down 0.5%

FMAG stock opened at $34.95 on Wednesday. Fidelity Magellan ETF has a fifty-two week low of $30.49 and a fifty-two week high of $37.19. The firm’s 50-day simple moving average is $36.12 and its 200 day simple moving average is $34.74. The stock has a market cap of $257.93 million, a PE ratio of 34.77 and a beta of 1.13.

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.