Fitell (NASDAQ:FTEL) Shares Gap Down – Here’s What Happened

Fitell Co. (NASDAQ:FTEL) gapped down prior to trading on Tuesday . The stock had previously closed at $23.85, but opened at $22.69. Fitell shares last traded at $25.22, with a volume of 93,302 shares traded.

Fitell Price Performance

The stock has a 50-day moving average of $23.54 and a two-hundred day moving average of $20.73.

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 Fitell Co. (NASDAQ:FTEL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,028 shares of the company’s stock, valued at approximately $274,000. XTX Topco Ltd owned approximately 0.08% of Fitell as of its most recent SEC filing. 0.10% of the stock is owned by institutional investors.

Fitell Company Profile

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.