RLX Technology (NYSE:RLX) Shares Up 5.7% – What’s Next?

RLX Technology Inc. (NYSE:RLX) shares were up 5.7% during mid-day trading on Tuesday . The company traded as high as $1.95 and last traded at $1.94. Approximately 6,282,516 shares were traded during mid-day trading, an increase of 37% from the average daily volume of 4,595,819 shares. The stock had previously closed at $1.83.

RLX Technology Stock Up 5.5 %

The business has a 50-day simple moving average of $1.70 and a two-hundred day simple moving average of $1.76. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 45.76 and a beta of 0.93.

RLX Technology Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 0.59%. RLX Technology’s dividend payout ratio is currently 25.01%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RLX. Bank of New York Mellon Corp increased its position in shares of RLX Technology by 36.5% during the 2nd 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. Centiva Capital LP acquired a new position in RLX Technology in the 3rd quarter worth about $29,000. Blue Trust Inc. boosted its position 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 worth $65,000 after purchasing an additional 26,220 shares in the last quarter. Profund Advisors LLC acquired a new stake in RLX Technology in the second quarter valued at approximately $72,000. Finally, Virtu Financial LLC lifted its holdings in shares of RLX Technology by 142.9% in the 3rd quarter. Virtu Financial LLC now owns 85,047 shares of the company’s stock worth $154,000 after purchasing an additional 50,033 shares in the last quarter. 22.68% of the stock is owned by institutional investors.

RLX Technology Company Profile

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.