RLX Technology (NYSE:RLX) Trading Down 4.3% – What’s Next?

RLX Technology Inc. (NYSE:RLX) dropped 4.3% during trading on Tuesday . The company traded as low as $1.88 and last traded at $1.89. Approximately 1,634,456 shares were traded during trading, a decline of 65% from the average daily volume of 4,655,946 shares. The stock had previously closed at $1.97.

RLX Technology Trading Down 4.3 %

The stock’s fifty day moving average is $1.72 and its two-hundred day moving average is $1.76. The company has a market capitalization of $2.96 billion, a PE ratio of 49.26 and a beta of 1.02.

RLX Technology Announces Dividend

The business also recently announced 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 is Friday, December 6th.

Institutional Trading of RLX Technology

A number of large investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in shares of RLX Technology by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 293,830 shares of the company’s stock worth $497,000 after acquiring an additional 37,294 shares during the period. Virtu Financial LLC increased its stake in shares of RLX Technology by 142.9% in the third 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. Public Employees Retirement System of Ohio purchased a new position in shares of RLX Technology in the third quarter worth about $221,000. Y Intercept Hong Kong Ltd bought a new stake in shares of RLX Technology in the third quarter valued at approximately $118,000. Finally, XTX Topco Ltd purchased a new stake in shares of RLX Technology during the 3rd quarter valued at approximately $184,000. 22.68% of the stock is owned by hedge funds and other 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.