The return result of var x1 = $('<div>') is what?

The return result of var x1 = $('<div>') is what?

What is x1 in the statement below?  and Can I do that? Is it an object? Does it have properties that I can set on the object itself if it is an object? Or do I have to go thru jquery to manipulate it?  Thanks

var x1 = $('<div id="d1">some text</div>').addClass('newdiv')

Thanks.