Fitell Co. (NASDAQ:FTEL) Sees Significant Decline in Short Interest

Fitell Co. (NASDAQ:FTEL) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 396,600 shares, a decline of 19.5% from the February 28th total of 492,600 shares. Based on an average daily trading volume, of 957,600 shares, the days-to-cover ratio is currently 0.4 days. Approximately 2.8% of the company’s stock are sold short.

Institutional Investors Weigh In On Fitell

An institutional investor recently bought a new position in Fitell stock. Y Intercept Hong Kong Ltd bought a new stake in Fitell Co. (NASDAQ:FTEL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,043 shares of the company’s stock, valued at approximately $88,000. 0.10% of the stock is currently owned by hedge funds and other institutional investors.

Fitell Stock Up 5.8 %

Shares of FTEL stock traded up $0.03 during trading hours on Tuesday, reaching $0.60. 55,646 shares of the stock were exchanged, compared to its average volume of 504,833. Fitell has a 12-month low of $0.51 and a 12-month high of $49.50. The business’s fifty day moving average is $3.04 and its two-hundred day moving average is $14.37.

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.