Short Interest in Fitell Co. (NASDAQ:FTEL) Declines By 8.0%

Fitell Co. (NASDAQ:FTEL) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 1,380,000 shares, a drop of 8.0% from the September 30th total of 1,500,000 shares. Approximately 29.5% of the company’s shares are short sold. Based on an average trading volume of 163,400 shares, the short-interest ratio is currently 8.4 days.

Institutional Trading of Fitell

A hedge fund recently bought a new stake in Fitell stock. XTX Topco Ltd acquired a new stake in shares of Fitell Co. (NASDAQ:FTEL) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 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 reporting period. 0.10% of the stock is owned by institutional investors.

Fitell Trading Down 5.6 %

Shares of FTEL traded down $1.89 during midday trading on Thursday, hitting $32.12. The stock had a trading volume of 69,843 shares, compared to its average volume of 338,750. Fitell has a 1 year low of $0.88 and a 1 year high of $39.89. The stock’s 50 day moving average is $18.51 and its 200 day moving average is $17.90.

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.