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

Fitell Co. (NASDAQ:FTEL) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,160,000 shares, a decrease of 15.9% from the October 15th total of 1,380,000 shares. Currently, 24.8% of the company’s shares are sold short. Based on an average trading volume of 153,800 shares, the days-to-cover ratio is currently 7.5 days.

Fitell Price Performance

FTEL stock traded up $8.05 during mid-day trading on Friday, reaching $36.25. The company had a trading volume of 358,407 shares, compared to its average volume of 327,653. The firm has a 50 day moving average of $21.81 and a 200 day 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 purchased a new stake in shares of Fitell Co. (NASDAQ:FTEL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 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 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.