Short Interest in Hitek Global Inc. (NASDAQ:HKIT) Declines By 33.6%

Hitek Global Inc. (NASDAQ:HKIT) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 7,100 shares, a drop of 33.6% from the February 13th total of 10,700 shares. Based on an average trading volume of 33,300 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hitek Global stock. Citadel Advisors LLC acquired a new stake in shares of Hitek Global Inc. (NASDAQ:HKIT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,884 shares of the company’s stock, valued at approximately $31,000. Citadel Advisors LLC owned approximately 0.15% of Hitek Global as of its most recent filing with the Securities & Exchange Commission. 1.19% of the stock is owned by hedge funds and other institutional investors.

Hitek Global Stock Performance

HKIT traded up $0.02 on Monday, reaching $1.26. 4,780 shares of the company traded hands, compared to its average volume of 92,234. The stock’s 50 day moving average price is $1.30 and its 200-day moving average price is $1.37. Hitek Global has a 52-week low of $1.00 and a 52-week high of $2.18.

Hitek Global Company Profile

Hitek Global Inc provides information technology (IT) consulting and solutions to small and medium businesses in various industry sectors in China. It offers anti-counterfeiting tax control system (ACTCS) tax devices, including golden tax disk and printers, ACTCS services, and IT services; and sells software and hardware to large businesses, such as laptops, printers, desktop computers, and related accessories, as well as Internet servers, cameras, and monitors.