RLX Technology (NYSE:RLX) Shares Gap Up Following Dividend Announcement

RLX Technology Inc. (NYSE:RLX)’s stock price gapped up before the market opened on Friday after the company announced a dividend. The stock had previously closed at $1.63, but opened at $1.75. RLX Technology shares last traded at $1.69, with a volume of 1,668,034 shares changing hands.

The newly announced dividend which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given 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 presently 25.00%.

RLX Technology Trading Up 3.7 %

The stock has a market capitalization of $2.65 billion, a P/E ratio of 42.25 and a beta of 0.93. The business has a fifty day simple moving average of $1.68 and a 200 day simple moving average of $1.77.

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

Hedge Funds Weigh In On RLX Technology

Several institutional investors have recently added to or reduced their stakes in the stock. Centiva Capital LP purchased a new position in shares of RLX Technology in the third quarter worth about $29,000. Blue Trust Inc. grew its stake in RLX Technology by 284.8% in 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 in the last quarter. Profund Advisors LLC bought a new stake in RLX Technology during the 2nd quarter valued at $72,000. Bank of New York Mellon Corp lifted its position 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 worth $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 in the third quarter worth $108,000. Institutional investors own 22.68% of the company’s stock.

About RLX Technology

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.