RLX Technology (NYSE:RLX) Sees Strong Trading Volume After Dividend Announcement

Shares of RLX Technology Inc. (NYSE:RLX) saw unusually-strong trading volume on Monday following a dividend announcement from the company. 6,332,674 shares traded hands 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. Investors 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 currently 25.00%.

RLX Technology Stock Down 3.6 %

The firm’s 50 day moving average is $1.69 and its 200-day moving average is $1.77. The firm has a market cap of $2.76 billion, a PE ratio of 43.88 and a beta of 0.93.

Institutional Trading of RLX Technology

A number of hedge funds have recently added to or reduced their stakes in RLX. SG Americas Securities LLC grew its position in RLX Technology by 7,420.4% during the second quarter. SG Americas Securities LLC now owns 4,729,553 shares of the company’s stock valued at $8,702,000 after acquiring an additional 4,666,663 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of RLX Technology during the second quarter valued at about $146,000. Blue Trust Inc. boosted its stake 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 acquired a new position in RLX Technology during the 2nd quarter worth $72,000. Finally, Bank of New York Mellon Corp increased its holdings in RLX Technology by 36.5% in the second quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock valued at $73,000 after buying an additional 10,596 shares during the last quarter. 22.68% of the stock is owned by institutional investors and hedge funds.

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.