Tuya (NYSE:TUYA) Stock Price Down 4.3%

Tuya Inc. (NYSE:TUYA)’s share price dropped 4.3% during mid-day trading on Wednesday . The company traded as low as $1.30 and last traded at $1.32. Approximately 96,609 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 329,686 shares. The stock had previously closed at $1.38.

Tuya Price Performance

The business’s 50-day moving average price is $1.53 and its 200 day moving average price is $1.72.

Tuya Dividend Announcement

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

Institutional Investors Weigh In On Tuya

Large investors have recently added to or reduced their stakes in the business. Carmignac Gestion increased its stake in Tuya by 24.2% in the 4th quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock worth $11,247,000 after acquiring an additional 952,100 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Tuya by 59.2% during the second quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock worth $1,132,000 after purchasing an additional 247,592 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Tuya in the fourth quarter worth approximately $73,000. Finally, XTX Topco Ltd purchased a new stake in Tuya in the second quarter valued at approximately $27,000. Institutional investors 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.