Tuya (NYSE:TUYA) Shares Up 4.9% Following Dividend Announcement

Tuya Inc. (NYSE:TUYA) shares shot up 4.9% on Monday after the company announced a dividend. The stock traded as high as $1.74 and last traded at $1.72. 110,785 shares changed hands during mid-day trading, a decline of 60% from the average session 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. Stockholders of record on Wednesday, September 11th will be paid a $0.059 dividend. The ex-dividend date of this dividend is Wednesday, September 11th.

Tuya Stock Down 10.2 %

The company has a market cap of $801.98 million, a PE ratio of -19.88 and a beta of 0.34. The company’s fifty day moving average is $1.59 and its 200-day moving average is $1.75.

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 purchased a new position in shares of Tuya in the second quarter valued at $27,000. Acadian Asset Management LLC lifted its stake in shares of Tuya by 59.2% during the 2nd quarter. Acadian Asset Management LLC now owns 665,730 shares of the company’s stock worth $1,132,000 after acquiring an additional 247,592 shares during the last quarter. Carmignac Gestion boosted its stake in shares of Tuya by 24.2% during the fourth quarter. Carmignac Gestion now owns 4,890,200 shares of the company’s stock valued at $11,247,000 after purchasing an additional 952,100 shares during the period. IvyRock Asset Management HK Ltd purchased a new stake in Tuya in the 4th quarter valued at about $322,000. Finally, Russell Investments Group Ltd. bought a new position in Tuya in the fourth quarter worth approximately $73,000. 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.