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

Shares of MMTec, Inc. (NASDAQ:MTC) are scheduled to reverse split on the morning of 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 closing bell on Tuesday, December 17th.

MMTec Trading Down 5.9 %

MTC opened at $0.23 on Friday. The firm has a 50-day moving average price of $0.34 and a 200-day moving average price of $0.34. MMTec has a twelve month low of $0.18 and a twelve 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 bought a new position in shares of MMTec, Inc. (NASDAQ:MTC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 204,362 shares of the company’s stock, valued at approximately $104,000. XTX Topco Ltd owned 0.24% of MMTec at the end of the most recent quarter. Hedge funds and other 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.