Fitell Co. (NASDAQ:FTEL) Short Interest Down 15.2% in February

Fitell Co. (NASDAQ:FTEL) was the recipient of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 492,600 shares, a drop of 15.2% from the February 13th total of 580,800 shares. Currently, 3.5% of the company’s stock are sold short. Based on an average trading volume of 941,400 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On Fitell

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

Fitell Stock Performance

Shares of NASDAQ FTEL opened at $0.64 on Wednesday. Fitell has a one year low of $0.51 and a one year high of $49.50. The business has a 50-day moving average price of $4.67 and a two-hundred day moving average price of $15.25.

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.