Fitell (NASDAQ:FTEL) Trading Down 8.2% – Should You Sell?

Shares of Fitell Co. (NASDAQ:FTEL) fell 8.2% during trading on Monday . The company 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 Trading Up 2.1 %

The company has a fifty day moving average price of $25.88 and a 200 day moving average price of $21.82.

Hedge Funds 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 second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,028 shares of the company’s stock, valued at approximately $274,000. XTX Topco Ltd owned 0.08% of Fitell as of its most recent SEC filing. 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.