Fidelity Magellan ETF (BATS:FMAG) Short Interest Up 367.7% in July

Fidelity Magellan ETF (BATS:FMAG) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 17,697 shares, an increase of 367.7% from the July 15th total of 3,784 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 12,764 shares, the days-to-cover ratio is currently 1.4 days.

Hedge Funds Weigh In On Fidelity Magellan ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors grew its position in shares of Fidelity Magellan ETF by 14.1% in the first 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 period. Cetera Investment Advisers raised its position in shares of Fidelity Magellan ETF by 66.3% during 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 last quarter. Kestra Advisory Services LLC raised its position in shares of Fidelity Magellan ETF by 15.5% during 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 last quarter. LPL Financial LLC acquired a new position in shares of Fidelity Magellan ETF during the 4th quarter worth about $222,000. Finally, Integrated Wealth Concepts LLC lifted its stake in Fidelity Magellan ETF by 18.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,780 shares of the company’s stock valued at $274,000 after buying an additional 1,239 shares in the last quarter.

Fidelity Magellan ETF Price Performance

Shares of BATS:FMAG opened at $36.82 on Wednesday. The business’s 50 day moving average price is $36.10 and its 200-day moving average price is $34.87. Fidelity Magellan ETF has a 1 year low of $30.49 and a 1 year high of $37.58. The firm has a market capitalization of $271.73 million, a price-to-earnings 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.