Short Interest in Fitell Co. (NASDAQ:FTEL) Grows By 10.3%

Fitell Co. (NASDAQ:FTEL) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 1,610,000 shares, a growth of 10.3% from the July 15th total of 1,460,000 shares. Based on an average daily trading volume, of 318,000 shares, the days-to-cover ratio is presently 5.1 days. Approximately 34.4% of the shares of the stock are sold short.

Fitell Trading Down 5.6 %

Shares of Fitell stock traded down $0.87 during midday trading on Monday, hitting $14.70. 25,019 shares of the company traded hands, compared to its average volume of 392,160. The firm’s fifty day moving average price is $22.68 and its 200-day moving average price is $13.26. 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 Fitell Co. (NASDAQ:FTEL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,028 shares of the company’s stock, valued at approximately $274,000. XTX Topco Ltd owned about 0.08% of Fitell at the end of the most recent quarter. 0.10% of the stock is currently owned by 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.