Fitell (NASDAQ:FTEL) Trading Down 8.2% – Here’s Why

Fitell Co. (NASDAQ:FTEL)’s share price fell 8.2% on Monday . The stock traded as low as $30.30 and last traded at $30.30. 113,859 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 320,262 shares. The stock had previously closed at $33.00.

Fitell Stock Up 2.1 %

The company has a fifty day moving average of $25.88 and a two-hundred day moving average of $21.82.

Institutional Investors Weigh In On Fitell

A hedge fund recently bought a new stake in Fitell stock. XTX Topco Ltd bought a new stake in shares of Fitell Co. (NASDAQ:FTEL) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 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 reporting period. Hedge funds and other institutional investors own 0.10% of the company’s stock.

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.