Short Interest in UTime Limited (NASDAQ:WTO) Declines By 55.8%

UTime Limited (NASDAQ:WTO) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 306,900 shares, a decrease of 55.8% from the February 28th total of 694,100 shares. Based on an average trading volume of 674,700 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.2% of the shares of the stock are sold short.

UTime Stock Performance

Shares of WTO stock opened at $0.15 on Friday. UTime has a fifty-two week low of $0.14 and a fifty-two week high of $62.25. The stock’s fifty day moving average is $0.25 and its two-hundred day moving average is $0.34.

Shares of UTime are scheduled to reverse split on Monday, March 31st. The 1-10 reverse split was announced on Wednesday, March 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, March 28th.

Institutional Trading of UTime

A hedge fund recently bought a new stake in UTime stock. XTX Topco Ltd bought a new position in shares of UTime Limited (NASDAQ:WTO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 120,771 shares of the company’s stock, valued at approximately $38,000. XTX Topco Ltd owned about 0.67% of UTime as of its most recent SEC filing. 1.07% of the stock is owned by institutional investors and hedge funds.

About UTime

UTime Limited, together with its subsidiaries, designs, develops, manufactures, sells, and operates mobile phones, accessories, and related consumer electronics. The company offers consumer electronics, such as power banks, bluetooth speakers, batteries, chargers, cell phone parts, molds, and shells.