Tuya (NYSE:TUYA) Trading Up 4.9% Following Dividend Announcement

Tuya Inc. (NYSE:TUYA)’s share price shot up 4.9% during trading on Monday following a dividend announcement from the company. The stock traded as high as $1.74 and last traded at $1.72. 110,785 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 276,329 shares. The stock had previously closed at $1.64.

The newly announced dividend which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 11th will be paid a dividend of $0.059 per share. The ex-dividend date is Wednesday, September 11th.

Tuya Trading Down 10.2 %

The firm has a market cap of $801.98 million, a P/E ratio of -19.88 and a beta of 0.34. The business’s fifty day moving average price is $1.59 and its two-hundred day moving average price is $1.75.

Hedge Funds Weigh In On Tuya

Several institutional investors have recently bought and sold shares of the stock. Carmignac Gestion boosted its stake in shares of Tuya by 24.2% during the 4th quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock worth $11,247,000 after acquiring an additional 952,100 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Tuya by 59.2% in the 2nd quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock worth $1,132,000 after purchasing an additional 247,592 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Tuya by 10.5% in the 4th quarter. California Public Employees Retirement System now owns 459,742 shares of the company’s stock worth $1,057,000 after purchasing an additional 43,778 shares during the last quarter. IvyRock Asset Management HK Ltd acquired a new position in Tuya during the fourth quarter valued at approximately $322,000. Finally, Russell Investments Group Ltd. acquired a new position in Tuya during the fourth quarter valued at approximately $73,000. 11.47% of the stock is currently owned by institutional investors.

Tuya Company Profile

Tuya Inc offers purpose-built Internet of Things (IoT) cloud development platform in the People's Republic of China and internationally. The company provides platform-as-a-service that enables business, original equipment manufacturers, brands, and developers to develop, launch, manage, and monetize software-enabled smart devices and services; and industry software-as-a-service, which enables businesses to deploy, connect, and manage various types of smart devices.