RLX Technology (NYSE:RLX) Sets New 52-Week High – Time to Buy?

RLX Technology Inc. (NYSE:RLX) reached a new 52-week high during mid-day trading on Saturday . The stock traded as high as $2.37 and last traded at $2.29, with a volume of 8611970 shares. The stock had previously closed at $2.20.

RLX Technology Trading Up 3.9 %

The business’s 50-day moving average is $1.98 and its two-hundred day moving average is $1.80.

RLX Technology Announces Dividend

The company also recently announced an annual dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.01 per share. The ex-dividend date was Friday, December 6th. This represents a dividend yield of 0.59%. RLX Technology’s dividend payout ratio is currently 25.01%.

Institutional Trading of RLX Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its stake 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 valued at $73,000 after purchasing an additional 10,596 shares during the period. Profund Advisors LLC purchased a new stake in RLX Technology during the second quarter worth about $72,000. Susquehanna Fundamental Investments LLC bought a new stake in RLX Technology in the second quarter worth about $146,000. Blue Trust Inc. boosted its stake in RLX Technology by 284.8% in the third quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock valued at $65,000 after acquiring an additional 26,220 shares during the last quarter. Finally, First Beijing Investment Ltd grew its position in shares of RLX Technology by 33.6% during the 3rd quarter. First Beijing Investment Ltd now owns 28,440,248 shares of the company’s stock valued at $51,477,000 after acquiring an additional 7,159,064 shares during the period. 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.