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

MMTec, Inc. (NASDAQ:MTC) shares traded down 4.7% during mid-day trading on Tuesday . The stock traded as low as $0.22 and last traded at $0.23. 1,794,911 shares changed 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 Trading Down 4.7 %

The business has a 50-day moving average price of $0.38 and a 200 day moving average price of $0.62.

Institutional Inflows and Outflows

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

About MMTec

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.