MMTec (NASDAQ:MTC) Shares to Reverse Split on Wednesday, December 18th

Shares of MMTec, Inc. (NASDAQ:MTC) are going to reverse split on Wednesday, December 18th. The 1-8 reverse split was announced on Thursday, December 12th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, December 17th.

MMTec Stock Performance

MTC opened at $0.23 on Friday. The stock has a fifty day moving average of $0.34 and a 200-day moving average of $0.34. MMTec has a 12-month low of $0.18 and a 12-month high of $12.90.

Hedge Funds Weigh In On MMTec

An institutional investor recently bought a new position in MMTec stock. XTX Topco Ltd purchased a new position in shares of MMTec, Inc. (NASDAQ:MTC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 204,362 shares of the company’s stock, valued at approximately $104,000. XTX Topco Ltd owned 0.24% of MMTec as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 0.25% of the company’s stock.

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.