How to place symbols above and below the same space in text mode?

Question

I'm inserting a word above a between-word space and a symbol below the same space (to imitate a teacher's correction). I'm using pdflatex and adapted this answer:

\documentclass[11pt]{article}
\usepackage[absolute]{textpos}
\usepackage{stackengine}
 %\onehalfspacing

\newcommand\labelit[2]{\stackengine{.55\baselineskip}{#1}
{\scriptsize\sffamily#2}{O}{c}{F}{F}{L}}

\newcommand\labeldown[2]{\stackengine{-.45\baselineskip}{#1}
{\scriptsize\sffamily#2}{O}{c}{F}{F}{L}}

\begin{document}

Film \labelit{magic}{\quad\quad\textit{never}}\labeldown{}{$\land $} lost in translation.

\end{document}

Q: How can I achieve correct stacking and alignment?

Answer 1

Something like this?

\documentclass{article}
\usepackage{setspace}

\newcommand{\corr}[1]{%
  \makebox[0pt]{%
    \renewcommand{\arraystretch}{0.8}%
    \scriptsize
    \raisebox{0.35\depth}{%
      \begin{tabular}{@{}c@{}}
      \itshape\sffamily #1 \\[0.75ex]
      $\land$
      \end{tabular}}%
  }%
}

\onehalfspacing

\begin{document}

A line above the one with the correction.

Film magic \corr{never} lost in translation.

A line below the one with the correction.

\end{document}