RLX Technology (NYSE:RLX) Trading 4.3% Higher – Here’s What Happened

RLX Technology Inc. (NYSE:RLX) was up 4.3% during mid-day trading on Thursday . The stock traded as high as $2.09 and last traded at $2.08. Approximately 3,834,231 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 4,662,876 shares. The stock had previously closed at $1.99.

RLX Technology Stock Performance

The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 50.00 and a beta of 1.03. The stock has a 50-day moving average of $1.75 and a 200-day moving average of $1.76.

RLX Technology Announces Dividend

The company also recently declared an annual dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.01 per share. This represents a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, December 6th. RLX Technology’s dividend payout ratio (DPR) is 25.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RLX. Bank of New York Mellon Corp boosted 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 buying an additional 10,596 shares during the period. Centiva Capital LP acquired a new position in RLX Technology during the 3rd quarter worth $29,000. Blue Trust Inc. grew its stake in shares of 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 in the last quarter. Franklin Resources Inc. increased its holdings in shares of RLX Technology by 14.5% during the third quarter. Franklin Resources Inc. now owns 293,830 shares of the company’s stock valued at $497,000 after purchasing an additional 37,294 shares during the period. Finally, Profund Advisors LLC bought a new stake in shares of RLX Technology during the second quarter valued at about $72,000. 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.