Short Interest in Hitek Global Inc. (NASDAQ:HKIT) Increases By 39.0%

Hitek Global Inc. (NASDAQ:HKIT) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 5,700 shares, an increase of 39.0% from the May 15th total of 4,100 shares. Based on an average daily volume of 17,400 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Hitek Global stock. Citadel Advisors LLC bought a new stake in Hitek Global Inc. (NASDAQ:HKIT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 21,884 shares of the company’s stock, valued at approximately $31,000. Citadel Advisors LLC owned 0.15% of Hitek Global as of its most recent SEC filing. 1.19% of the stock is owned by institutional investors and hedge funds.

Hitek Global Stock Performance

NASDAQ:HKIT traded down $0.02 on Monday, hitting $1.33. The stock had a trading volume of 23,731 shares, compared to its average volume of 29,584. The company has a fifty day moving average price of $1.28 and a two-hundred day moving average price of $1.30. Hitek Global has a 1-year low of $1.15 and a 1-year high of $2.10.

About Hitek Global

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.