J.W. Cole Advisors Inc. Lowers Position in Fidelity Magellan ETF (BATS:FMAG)

J.W. Cole Advisors Inc. lowered its stake in shares of Fidelity Magellan ETF (BATS:FMAG) by 68.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,241 shares of the company’s stock after selling 19,843 shares during the period. J.W. Cole Advisors Inc. owned approximately 0.28% of Fidelity Magellan ETF worth $283,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FMAG. Elevation Capital Advisory LLC purchased a new stake in shares of Fidelity Magellan ETF during the 2nd quarter worth about $265,000. Commonwealth Equity Services LLC lifted its position in Fidelity Magellan ETF by 9.2% during the second quarter. Commonwealth Equity Services LLC now owns 24,876 shares of the company’s stock valued at $738,000 after buying an additional 2,104 shares in the last quarter. Arkadios Wealth Advisors purchased a new stake in Fidelity Magellan ETF during the third quarter worth approximately $3,250,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Fidelity Magellan ETF in the 2nd quarter valued at $3,258,000.

Fidelity Magellan ETF Trading Down 2.4 %

Shares of BATS:FMAG opened at $30.30 on Friday. The company’s 50 day moving average is $30.34 and its 200-day moving average is $29.32. The stock has a market cap of $100.90 million, a P/E ratio of 0.86 and a beta of 1.13.

Fidelity Magellan ETF Company 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.