MMTec (NASDAQ:MTC) Shares Down 0.7% – Time to Sell?

MMTec, Inc. (NASDAQ:MTC)’s stock price dropped 0.7% during mid-day trading on Thursday . The company traded as low as $1.43 and last traded at $1.45. Approximately 105,937 shares traded 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 Price Performance

The company has a 50-day moving average price of $1.89 and a 200 day moving average price of $2.49.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MMTec stock. XTX Topco Ltd purchased a new position in MMTec, Inc. (NASDAQ:MTC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 204,362 shares of the company’s stock, valued at approximately $104,000. XTX Topco Ltd owned about 0.24% of MMTec at the end of the most recent quarter. 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.