Fitell (NASDAQ:FTEL) Stock Price Down 8.2% – Time to Sell?

Fitell Co. (NASDAQ:FTEL) shares dropped 8.2% on Monday . The stock traded as low as $30.30 and last traded at $30.30. Approximately 113,859 shares traded hands during trading, a decline of 64% from the average daily volume of 320,262 shares. The stock had previously closed at $33.00.

Fitell Price Performance

The stock’s 50 day simple moving average is $25.27 and its 200-day simple moving average is $21.60.

Institutional Investors Weigh In On Fitell

An institutional investor recently bought a new position in Fitell stock. XTX Topco Ltd purchased a new position in shares of Fitell Co. (NASDAQ:FTEL) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,028 shares of the company’s stock, valued at approximately $274,000. XTX Topco Ltd owned approximately 0.08% of Fitell as of its most recent filing with the SEC. 0.10% of the stock is owned by institutional investors and hedge funds.

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.