Where are you? When did the tree make this move?

Pull that mulch away from the trunk! Too thick right against it.

It is in transplant shock. All you can do is keep it watered and wait to see if it makes it. It is not dead yet.

I live in North  Carolina, it has been extremely hot. I have pulled back the  Mulch I also brought compound and manure soil and manure soil to blend with the soil in the ground will that help any. Since it's  been so hot how often should I water my magnolia

I moved the tree from the backyard  about  two weeks  ago now.

If only 2 weeks ago, then the tree is certainly suffering from transplant shock, just as Cristopher stated. All you need to do is keep it properly watered.

Can't tell you how often to water....far too many variables involved. But you want the rootball and surrounding soil to stay evenly moist - not too wet and not too dry.

I gathered quite a bit of the root when I transplanted the tree I also gathered some soil that the tree was planted in as well.

Wrong time of year to transplant a magnolia. Was it in more shade out back? All you can do is keep it watered and hope for the best. In the hot, in average soil, that would mean a good soaking every day for two weeks minimum depending on a host of variables.

You can add any amendments you might have on top. They will do nothing to help the situation. They will be good for the future. No more digging.

Yes the magnolia tree was in a shaded area in my backyard. 

Thank you everyone for the great comments. I'm  still new at gardening.

And for the future, never amend the soil in a planting hole. In addition, where is the root flare of the tree? It should be visible.