Tuya (NYSE:TUYA) Trading Up 4.9% After Dividend Announcement

Tuya Inc. (NYSE:TUYA) was up 4.9% on Monday following a dividend announcement from the company. The company traded as high as $1.74 and last traded at $1.72. Approximately 110,785 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 276,329 shares. The stock had previously closed at $1.64.

The newly announced dividend which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 11th will be issued a $0.059 dividend. The ex-dividend date of this dividend is Wednesday, September 11th.

Tuya Stock Performance

The firm’s 50 day moving average price is $1.59 and its two-hundred day moving average price is $1.75. The firm has a market cap of $751.54 million, a PE ratio of -19.88 and a beta of 0.34.

Institutional Investors Weigh In On Tuya

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TUYA. XTX Topco Ltd acquired a new position in shares of Tuya in the 2nd quarter worth approximately $27,000. Russell Investments Group Ltd. acquired a new stake in shares of Tuya during the fourth quarter worth about $73,000. IvyRock Asset Management HK Ltd purchased a new position in shares of Tuya in the fourth quarter valued at approximately $322,000. Acadian Asset Management LLC increased its stake in Tuya by 139.3% during the 1st quarter. Acadian Asset Management LLC now owns 418,138 shares of the company’s stock worth $727,000 after buying an additional 243,423 shares during the period. Finally, California Public Employees Retirement System boosted its position in Tuya by 10.5% in the 4th quarter. California Public Employees Retirement System now owns 459,742 shares of the company’s stock valued at $1,057,000 after buying an additional 43,778 shares during the period. Hedge funds and other institutional investors own 11.47% of the company’s stock.

Tuya Company Profile

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.