Raytech (NASDAQ:RAY) Trading Down 2.4% – Time to Sell?

Raytech Holding Limited (NASDAQ:RAY)’s share price was down 2.4% during trading on Friday . The stock traded as low as $0.52 and last traded at $0.54. Approximately 2,901,950 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 10,608,426 shares. The stock had previously closed at $0.55.

Raytech Price Performance

The stock has a 50 day moving average of $2.03 and a 200-day moving average of $1.81.

Institutional Trading of Raytech

A hedge fund recently bought a new stake in Raytech stock. Marex Group plc purchased a new position in shares of Raytech Holding Limited (NASDAQ:RAY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 51,216 shares of the company’s stock, valued at approximately $60,000. Marex Group plc owned about 0.12% of Raytech at the end of the most recent quarter.

About Raytech

Raytech Holding Limited company specializes in design, sourcing and wholesale of personal care electrical appliances for international brand owners. Raytech Holding Limited is based in Hong Kong.