RLX Technology (NYSE:RLX) Sees Unusually-High Trading Volume After Dividend Announcement

RLX Technology Inc. (NYSE:RLXGet Free Report) shares saw unusually-strong trading volume on Monday following a dividend announcement from the company. Approximately 6,332,674 shares were traded during trading, an increase of 40% from the previous session’s volume of 4,528,921 shares.The stock last traded at $1.79 and had previously closed at $1.69.

The newly announced dividend which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.01 per share. This represents a dividend yield of 0.59%. The ex-dividend date is Friday, December 6th. RLX Technology’s payout ratio is 25.01%.

RLX Technology Stock Up 8.0 %

The stock has a 50 day moving average price of $1.69 and a 200 day moving average price of $1.77. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 45.64 and a beta of 0.93.

RLX Technology (NYSE:RLXGet Free Report) last announced its quarterly earnings results on Friday, August 16th. The company reported $0.01 EPS for the quarter. RLX Technology had a return on equity of 2.48% and a net margin of 18.25%. The firm had revenue of $86.30 million for the quarter.

Institutional Trading of RLX Technology

Hedge funds have recently made changes to their positions in the company. Centiva Capital LP bought a new stake in RLX Technology in the third quarter worth approximately $29,000. Blue Trust Inc. lifted its position in shares of RLX Technology by 284.8% during the 3rd quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock valued at $65,000 after buying an additional 26,220 shares during the last quarter. Profund Advisors LLC purchased a new stake in RLX Technology during the 2nd quarter worth about $72,000. Bank of New York Mellon Corp lifted its holdings in RLX Technology by 36.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock worth $73,000 after purchasing an additional 10,596 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in RLX Technology in the 3rd quarter worth about $108,000. 22.68% of the stock is owned by institutional investors and hedge funds.

RLX Technology Company Profile

(Get Free Report)

RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.

Further Reading

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