Tuya (NYSE:TUYA) Shares Gap Up – Here’s What Happened

Shares of Tuya Inc. (NYSE:TUYA) gapped up prior to trading on Thursday . The stock had previously closed at $2.70, but opened at $2.84. Tuya shares last traded at $3.07, with a volume of 1,413,283 shares traded.

Tuya Trading Up 3.4 %

The company’s fifty day moving average is $2.00 and its 200 day moving average is $1.71.

Institutional Trading of Tuya

A number of hedge funds and other institutional investors have recently modified their holdings of TUYA. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Tuya by 91.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock valued at $1,046,000 after acquiring an additional 302,261 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tuya by 60.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock valued at $578,000 after buying an additional 132,200 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tuya during the 3rd quarter worth approximately $116,000. Paloma Partners Management Co acquired a new position in shares of Tuya during the 3rd quarter worth approximately $73,000. Finally, Centiva Capital LP bought a new stake in Tuya in the 3rd quarter valued at $63,000. Institutional investors and hedge funds own 11.47% of the company’s stock.

About Tuya

Tuya Inc offers purpose-built Internet of Things (IoT) cloud development platform in the People's Republic of China and internationally. The company provides platform-as-a-service that enables business, original equipment manufacturers, brands, and developers to develop, launch, manage, and monetize software-enabled smart devices and services; and industry software-as-a-service, which enables businesses to deploy, connect, and manage various types of smart devices.