Exela Technologies (NASDAQ:XELA) Shares Down 9.2% – Here’s What Happened

Shares of Exela Technologies, Inc. (NASDAQ:XELA) dropped 9.2% during trading on Monday . The company traded as low as $0.54 and last traded at $0.59. Approximately 50,624 shares traded hands during trading, an increase of 17% from the average daily volume of 43,358 shares. The stock had previously closed at $0.65.

Exela Technologies Stock Performance

The company has a market capitalization of $3.50 million, a PE ratio of -0.06 and a beta of 1.79. The stock’s 50 day moving average is $0.97 and its 200 day moving average is $1.60.

Institutional Trading of Exela Technologies

A hedge fund recently bought a new stake in Exela Technologies stock. XTX Topco Ltd purchased a new position in Exela Technologies, Inc. (NASDAQ:XELA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,532 shares of the company’s stock, valued at approximately $40,000. XTX Topco Ltd owned approximately 0.31% of Exela Technologies at the end of the most recent quarter. 16.33% of the stock is owned by institutional investors and hedge funds.

About Exela Technologies

Exela Technologies, Inc (Exela), formerly Quinpario Acquisition Corp. 2, is engaged in providing information and transaction processing solutions. The Company’s segments include Information and Transaction Processing Solutions (ITPS), Healthcare Solutions (HS) and Legal & Loss Prevention Services (LLPS).