Dingdong (Cayman) (NYSE:DDL) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Dingdong (Cayman) Limited (NYSE:DDL) saw strong trading volume on Monday . 515,115 shares changed hands during mid-day trading, a decline of 14% from the previous session’s volume of 596,482 shares.The stock last traded at $3.75 and had previously closed at $3.72.

Dingdong (Cayman) Stock Up 4.8 %

The company has a fifty day moving average of $3.07 and a two-hundred day moving average of $2.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Dingdong (Cayman) by 0.4% in the first quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock valued at $5,917,000 after purchasing an additional 17,900 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Dingdong (Cayman) by 63.4% in the 2nd quarter. Renaissance Technologies LLC now owns 690,200 shares of the company’s stock valued at $1,373,000 after buying an additional 267,700 shares during the last quarter. Acadian Asset Management LLC bought a new position in Dingdong (Cayman) in the 2nd quarter worth approximately $86,000. Virtu Financial LLC acquired a new position in shares of Dingdong (Cayman) during the first quarter worth approximately $54,000. Finally, GSA Capital Partners LLP boosted its position in shares of Dingdong (Cayman) by 81.0% in the third quarter. GSA Capital Partners LLP now owns 72,561 shares of the company’s stock valued at $258,000 after acquiring an additional 32,478 shares during the period. Institutional investors and hedge funds own 24.66% of the company’s stock.

Dingdong (Cayman) Company Profile

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.