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

MMTec, Inc. (NASDAQ:MTC) shares 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 Down 5.9 %

Shares of NASDAQ:MTC opened at $0.23 on Friday. The stock’s fifty day moving average price is $0.34 and its 200-day moving average price is $0.34. MMTec has a 1 year low of $0.18 and a 1 year high of $12.90.

Institutional Trading of MMTec

An institutional investor recently bought a new position in MMTec stock. XTX Topco Ltd acquired a new position in MMTec, Inc. (NASDAQ:MTC) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 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 SEC filing. Hedge funds and other 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.