MMTec (NASDAQ:MTC) Trading Down 4.7% – Should You Sell?

MMTec, Inc. (NASDAQ:MTC)’s share price was down 4.7% during trading on Tuesday . The stock traded as low as $0.22 and last traded at $0.23. Approximately 1,794,911 shares were traded during trading, a decline of 55% from the average daily volume of 4,031,832 shares. The stock had previously closed at $0.24.

MMTec Price Performance

The stock has a fifty day simple moving average of $0.38 and a two-hundred day simple moving average of $0.59.

Institutional Investors Weigh In On MMTec

A hedge fund recently bought a new stake in MMTec stock. XTX Topco Ltd acquired a new stake in shares of MMTec, Inc. (NASDAQ:MTC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission. Institutional investors own 0.25% of the company’s stock.

About MMTec

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.