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

Fitell Co. (NASDAQ:FTEL) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totalling 1,060,000 shares, a decrease of 10.9% from the November 30th total of 1,190,000 shares. Based on an average daily trading volume, of 215,900 shares, the days-to-cover ratio is presently 4.9 days. Approximately 7.8% of the shares of the stock are sold short.

Fitell Price Performance

Shares of NASDAQ:FTEL traded down $0.30 during trading on Wednesday, hitting $8.74. The company had a trading volume of 39,974 shares, compared to its average volume of 328,339. The company has a fifty day simple moving average of $25.18 and a two-hundred day simple moving average of $21.67. Fitell has a one year low of $0.88 and a one year high of $49.50.

Institutional Trading of Fitell

An institutional investor recently bought a new position in Fitell stock. XTX Topco Ltd acquired a new position in Fitell Co. (NASDAQ:FTEL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,028 shares of the company’s stock, valued at approximately $274,000. XTX Topco Ltd owned 0.08% of Fitell at the end of the most recent reporting period. Institutional investors and hedge funds own 0.10% of the company’s stock.

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.