Fitell Co. (NASDAQ:FTEL) Sees Large Decrease in Short Interest

Fitell Co. (NASDAQ:FTELGet Free Report) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 349,500 shares, a drop of 67.0% from the December 15th total of 1,060,000 shares. Based on an average daily volume of 223,600 shares, the short-interest ratio is currently 1.6 days. Approximately 2.6% of the shares of the stock are sold short.

Hedge Funds Weigh In On Fitell

An institutional investor recently bought a new position in Fitell stock. XTX Topco Ltd acquired a new stake in Fitell Co. (NASDAQ:FTELFree Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,028 shares of the company’s stock, valued at approximately $274,000. XTX Topco Ltd owned approximately 0.08% of Fitell at the end of the most recent reporting period. Institutional investors own 0.10% of the company’s stock.

Fitell Stock Performance

NASDAQ FTEL traded down $1.94 during mid-day trading on Tuesday, hitting $7.93. The stock had a trading volume of 335,641 shares, compared to its average volume of 208,130. Fitell has a 52-week low of $0.92 and a 52-week high of $49.50. The company has a 50 day simple moving average of $21.29 and a 200 day simple moving average of $20.35.

Fitell Company Profile

(Get Free Report)

Fitell Corporation, together with its subsidiaries, operates as an online retailer of gym and fitness equipment for personal training studios and commercial gyms chains in Australia and Southeast Asia. The company sells fitness equipment, including home gym and commercial strength-training equipment; and cardio equipment, such as rowing machines, exercise bikes, treadmills, and other related products under the Muscle Motion, Rapid Motion, and FleetX brand names.

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