RLX Technology (NYSE:RLX) Sees Large Volume Increase – Here’s What Happened

Shares of RLX Technology Inc. (NYSE:RLX) saw unusually-high trading volume on Friday . Approximately 8,848,896 shares were traded during trading, an increase of 91% from the previous session’s volume of 4,633,865 shares.The stock last traded at $2.07 and had previously closed at $1.95.

RLX Technology Stock Up 1.5 %

The business has a fifty day moving average of $1.71 and a 200 day moving average of $1.76. The company has a market cap of $3.11 billion, a P/E ratio of 52.64 and a beta of 0.93.

RLX Technology Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a yield of 0.59%. RLX Technology’s dividend payout ratio (DPR) is 25.01%.

Hedge Funds Weigh In On RLX Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Centiva Capital LP bought a new position in shares of RLX Technology during the third quarter valued at $29,000. Blue Trust Inc. increased its holdings in shares of RLX Technology by 284.8% during the third quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock valued at $65,000 after acquiring an additional 26,220 shares in the last quarter. Profund Advisors LLC bought a new position in shares of RLX Technology during the second quarter valued at $72,000. Bank of New York Mellon Corp increased its holdings in shares of RLX Technology by 36.5% during the second quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock valued at $73,000 after acquiring an additional 10,596 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of RLX Technology during the third quarter valued at $108,000. Institutional investors own 22.68% of the company’s stock.

RLX Technology Company Profile

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.