RLX Technology (NYSE:RLX) Sees Strong Trading Volume – Here’s What Happened

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 Price Performance

The company has a market capitalization of $3.11 billion, a PE ratio of 52.64 and a beta of 0.93. The firm has a 50-day moving average of $1.71 and a 200 day moving average of $1.76.

RLX Technology Dividend Announcement

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

Institutional Investors Weigh In On RLX Technology

Several institutional investors have recently modified their holdings of RLX. Centiva Capital LP purchased a new stake in shares of RLX Technology during the third quarter valued at $29,000. Blue Trust Inc. boosted its position in RLX Technology by 284.8% in the third quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock worth $65,000 after purchasing an additional 26,220 shares during the last quarter. Profund Advisors LLC purchased a new position in RLX Technology in the second quarter worth about $72,000. Bank of New York Mellon Corp boosted its position 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 worth $73,000 after purchasing an additional 10,596 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in RLX Technology in the third quarter worth about $108,000. 22.68% of the stock is owned by hedge funds and other institutional investors.

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.