MMTec (NASDAQ:MTC) Stock Price Down 4.7% – Here’s What Happened

Shares of MMTec, Inc. (NASDAQ:MTC) fell 4.7% on Tuesday . The company traded as low as $0.22 and last traded at $0.23. 1,794,911 shares traded hands during trading, a decline of 55% from the average session volume of 4,031,832 shares. The stock had previously closed at $0.24.

MMTec Stock Performance

The firm has a 50 day moving average of $0.38 and a 200-day moving average of $0.59.

Institutional Investors Weigh In On MMTec

A hedge fund recently bought a new stake in MMTec stock. XTX Topco Ltd bought a new stake in shares of MMTec, Inc. (NASDAQ:MTC) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 204,362 shares of the company’s stock, valued at approximately $104,000. XTX Topco Ltd owned approximately 0.24% of MMTec as of its most recent filing with the SEC. 0.25% of the stock is owned by institutional investors.

MMTec Company Profile

MMTec, Inc, together with its subsidiaries, develops and deploys platforms that enable financial institutions to engage in securities market transactions and settlements worldwide. The company operates in two segments, Gujia and MM Global. It offers Internet-based securities solutions comprising Securities Dealers Trading System, which supports securities registration and clearing, account management, risk management, trading and execution, and third party access middleware; Private Fund Investment Management System that supports multi-account management, fund valuation, risk management, quantitative trading access, liquidation, and requisition management; and Mobile Transaction Individual Client System and PC Client System for Apple IOS, Android, PC, and Web applications.