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

Fitell Co. (NASDAQ:FTEL) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 1,160,000 shares, a drop of 15.9% from the October 15th total of 1,380,000 shares. Approximately 24.8% of the shares of the stock are sold short. Based on an average daily volume of 153,800 shares, the days-to-cover ratio is currently 7.5 days.

Fitell Trading Up 28.5 %

FTEL traded up $8.05 during trading on Friday, reaching $36.25. 358,407 shares of the company traded hands, compared to its average volume of 327,653. The firm has a fifty day simple moving average of $21.81 and a 200 day simple moving average of $19.63. Fitell has a 12-month low of $0.88 and a 12-month high of $39.89.

Institutional Investors Weigh In On Fitell

A hedge fund recently bought a new stake in Fitell stock. XTX Topco Ltd bought a new stake in shares of Fitell Co. (NASDAQ:FTEL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,028 shares of the company’s stock, valued at approximately $274,000. XTX Topco Ltd owned approximately 0.08% of Fitell at the end of the most recent quarter. 0.10% of the stock is currently owned by hedge funds and other institutional investors.

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.