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

Fitell Co. (NASDAQ:FTEL) saw a large decline in short interest in October. As of October 15th, there was short interest totalling 1,380,000 shares, a decline of 8.0% from the September 30th total of 1,500,000 shares. Based on an average trading volume of 163,400 shares, the days-to-cover ratio is currently 8.4 days. Currently, 29.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

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

Fitell Price Performance

Shares of NASDAQ FTEL traded down $1.89 during mid-day trading on Thursday, reaching $32.12. The company had a trading volume of 69,843 shares, compared to its average volume of 338,750. The stock has a fifty day moving average of $18.51 and a two-hundred day moving average of $17.90. Fitell has a 12-month low of $0.88 and a 12-month high of $39.89.

Fitell Company Profile

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.