How to incorporate a fellowship into a CV
You're generally spot on, but I would tailor this a little more for the benefit of assessors. In evaluating fellowships, I would like to know the following:


Was it a competitive grant?
How long was the award?
How much was the award?
What was the research topic?
What were the outputs?


Modifying your example above:


  Summer Research Fellowship: December 2016-February 2017
  Macquarie University
  
  The Fellowship is a competitive grant awarded to undergraduate students in the Department of Mathematics. The grant consisted of direct research costs and living expenses worth $20,000. Under the supervision of Professor Geoffrey Killington I worked on a drug trial for patients with metastatic melanoma. The work I did resulted in two conference papers and a manuscript (currently in press).


Good luck!