Beam Wealth Advisors Inc. cut its holdings in shares of Fidelity Magellan ETF (BATS:FMAG – Free Report) by 14.2% during the second quarter, HoldingsChannel.com reports. The fund owned 120,363 shares of the company’s stock after selling 19,849 shares during the period. Fidelity Magellan ETF accounts for about 1.2% of Beam Wealth Advisors Inc.’s holdings, making the stock its 19th largest holding. Beam Wealth Advisors Inc.’s holdings in Fidelity Magellan ETF were worth $3,571,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Principal Securities Inc. purchased a new position in Fidelity Magellan ETF during the fourth quarter worth about $48,000. Commonwealth Equity Services LLC increased its holdings in shares of Fidelity Magellan ETF by 9.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 24,876 shares of the company’s stock worth $738,000 after buying an additional 2,104 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Fidelity Magellan ETF during the 1st quarter valued at approximately $1,822,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Fidelity Magellan ETF during the 2nd quarter valued at approximately $3,258,000.
Fidelity Magellan ETF Stock Up 1.1 %
Shares of Fidelity Magellan ETF stock opened at $28.74 on Tuesday. The stock has a fifty day simple moving average of $29.43 and a 200 day simple moving average of $28.56. The stock has a market capitalization of $95.70 million, a price-to-earnings ratio of 0.86 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.
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Want to see what other hedge funds are holding FMAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fidelity Magellan ETF (BATS:FMAG – Free Report).
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