RLX Technology (NYSE:RLX) Shares Gap Up Following Dividend Announcement

Shares of RLX Technology Inc. (NYSE:RLX) gapped up before the market opened on Friday after the company announced a dividend. The stock had previously closed at $1.63, but opened at $1.75. RLX Technology shares last traded at $1.69, with a volume of 1,668,034 shares trading hands.

The newly announced dividend which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 0.59%. RLX Technology’s payout ratio is 25.00%.

RLX Technology Stock Up 3.7 %

The stock has a fifty day moving average of $1.68 and a two-hundred day moving average of $1.77. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 42.25 and a beta of 0.93.

RLX Technology (NYSE:RLX) last released its quarterly earnings data on Friday, August 16th. The company reported $0.01 EPS for the quarter. RLX Technology had a return on equity of 2.48% and a net margin of 18.25%. The company had revenue of $86.30 million for the quarter.

Institutional Trading of RLX Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. First Beijing Investment Ltd grew its stake in RLX Technology by 33.6% during the third quarter. First Beijing Investment Ltd now owns 28,440,248 shares of the company’s stock worth $51,477,000 after buying an additional 7,159,064 shares during the period. SG Americas Securities LLC lifted its holdings in shares of RLX Technology by 7,420.4% during the 2nd quarter. SG Americas Securities LLC now owns 4,729,553 shares of the company’s stock valued at $8,702,000 after acquiring an additional 4,666,663 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of RLX Technology during the 3rd quarter valued at $2,386,000. Point72 Asset Management L.P. boosted its position in RLX Technology by 8,292.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,313,300 shares of the company’s stock worth $2,377,000 after purchasing an additional 1,297,651 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in RLX Technology by 58.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 612,067 shares of the company’s stock valued at $1,108,000 after purchasing an additional 225,200 shares in the last quarter. Institutional investors and hedge funds own 22.68% of the company’s stock.

About RLX Technology

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.