Short Interest in Fitell Co. (NASDAQ:FTEL) Drops By 5.1%

Fitell Co. (NASDAQ:FTEL) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 1,500,000 shares, a decline of 5.1% from the September 15th total of 1,580,000 shares. Currently, 32.1% of the company’s shares are short sold. Based on an average trading volume of 172,000 shares, the short-interest ratio is currently 8.7 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Fitell stock. XTX Topco Ltd acquired a new stake in Fitell Co. (NASDAQ:FTEL) during the 2nd quarter, according to the company in its most recent filing 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 0.08% of Fitell at the end of the most recent quarter. 0.10% of the stock is owned by institutional investors.

Fitell Stock Performance

Shares of FTEL stock opened at $18.30 on Friday. The firm’s 50 day moving average price is $16.05 and its 200-day moving average price is $16.62. Fitell has a one year low of $0.88 and a one year 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.