Dingdong (Cayman) (NYSE:DDL) Sees Strong Trading Volume – Here’s Why

Dingdong (Cayman) Limited (NYSE:DDL) shares saw unusually-high trading volume on Thursday . Approximately 292,954 shares traded hands during trading, a decline of 58% from the previous session’s volume of 698,256 shares.The stock last traded at $3.72 and had previously closed at $3.93.

Dingdong (Cayman) Stock Performance

The firm has a 50 day moving average price of $4.02 and a two-hundred day moving average price of $2.92. The company has a market capitalization of $888.22 million, a P/E ratio of 41.78 and a beta of 0.37.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DDL. Virtu Financial LLC acquired a new stake in shares of Dingdong (Cayman) in the 3rd quarter valued at $115,000. Public Employees Retirement System of Ohio acquired a new position in Dingdong (Cayman) in the third quarter valued at about $244,000. XTX Topco Ltd bought a new stake in Dingdong (Cayman) during the third quarter worth about $225,000. Jane Street Group LLC grew its stake in Dingdong (Cayman) by 110.8% during the third quarter. Jane Street Group LLC now owns 248,189 shares of the company’s stock worth $881,000 after buying an additional 130,470 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Dingdong (Cayman) by 32.7% during the third quarter. State Street Corp now owns 253,119 shares of the company’s stock worth $899,000 after buying an additional 62,338 shares in the last quarter. 24.66% of the stock is owned by institutional investors.

About Dingdong (Cayman)

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.