Fitell Co. (NASDAQ:FTEL) Short Interest Update

Fitell Co. (NASDAQ:FTEL) was the recipient of a significant 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 daily trading volume, of 163,400 shares, the days-to-cover ratio is presently 8.4 days. Approximately 29.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On Fitell

A hedge fund recently bought a new stake in Fitell stock. XTX Topco Ltd acquired a new position in Fitell Co. (NASDAQ:FTEL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 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 and hedge funds own 0.10% of the company’s stock.

Fitell Stock Down 5.6 %

FTEL stock traded down $1.89 during mid-day trading on Thursday, hitting $32.12. The company had a trading volume of 69,843 shares, compared to its average volume of 338,750. The company has a 50-day moving average price of $18.51 and a 200 day moving average price of $17.90. Fitell has a 12-month low of $0.88 and a 12-month high of $39.89.

About Fitell

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.