RLX Technology (NYSE:RLX) Sees Unusually-High Trading Volume – Should You Buy?

RLX Technology Inc. (NYSE:RLX) shares saw unusually-high trading volume on Friday . Approximately 8,848,896 shares traded hands during mid-day 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 Trading Up 1.5 %

The firm has a market cap of $3.11 billion, a P/E ratio of 49.51 and a beta of 0.93. The business’s 50-day moving average is $1.72 and its two-hundred day moving average is $1.76.

RLX Technology Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given 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 payout ratio is 25.01%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLX. Centiva Capital LP acquired a new stake in RLX Technology in the third quarter worth $29,000. Blue Trust Inc. lifted its position in RLX Technology by 284.8% in the 3rd quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock valued at $65,000 after purchasing an additional 26,220 shares during the last quarter. Profund Advisors LLC acquired a new position in RLX Technology during the 2nd quarter valued at about $72,000. Bank of New York Mellon Corp grew its position in RLX Technology by 36.5% in 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. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of RLX Technology in the third quarter valued at approximately $108,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

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.