Short Interest in Fitell Co. (NASDAQ:FTEL) Drops By 10.9%

Fitell Co. (NASDAQ:FTEL) was the recipient of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 1,060,000 shares, a decline of 10.9% from the November 30th total of 1,190,000 shares. Approximately 7.8% of the company’s shares are sold short. Based on an average daily trading volume, of 215,900 shares, the short-interest ratio is presently 4.9 days.

Hedge Funds 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 its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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. Hedge funds and other institutional investors own 0.10% of the company’s stock.

Fitell Stock Performance

Shares of Fitell stock traded up $0.36 during trading on Monday, hitting $9.04. The stock had a trading volume of 70,245 shares, compared to its average volume of 329,488. Fitell has a 1 year low of $0.88 and a 1 year high of $49.50. The stock has a 50 day simple moving average of $25.68 and a 200 day simple moving average of $21.84.

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.