MMTec (NASDAQ:MTC) Trading Down 0.7% – Should You Sell?

MMTec, Inc. (NASDAQ:MTC)’s share price was down 0.7% during trading on Thursday . The stock traded as low as $1.43 and last traded at $1.45. Approximately 105,937 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 206,313 shares. The stock had previously closed at $1.46.

MMTec Stock Performance

The company has a 50-day moving average of $1.86 and a two-hundred day moving average of $2.48.

Hedge Funds Weigh In On MMTec

A hedge fund recently bought a new stake in MMTec stock. XTX Topco Ltd acquired a new position in shares of MMTec, Inc. (NASDAQ:MTC) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 204,362 shares of the company’s stock, valued at approximately $104,000. XTX Topco Ltd owned about 0.24% of MMTec as of its most recent SEC filing. 0.25% of the stock is owned by institutional investors.

MMTec Company Profile

MMTec, Inc, together with its subsidiaries, develops and deploys platforms that enable financial institutions to engage in securities market transactions and settlements worldwide. The company operates in two segments, Gujia and MM Global. It offers Internet-based securities solutions comprising Securities Dealers Trading System, which supports securities registration and clearing, account management, risk management, trading and execution, and third party access middleware; Private Fund Investment Management System that supports multi-account management, fund valuation, risk management, quantitative trading access, liquidation, and requisition management; and Mobile Transaction Individual Client System and PC Client System for Apple IOS, Android, PC, and Web applications.