Renaissance IPO ETF (NYSEARCA:IPO) Trading Down 2.9% – What’s Next?

by · The Markets Daily

Renaissance IPO ETF (NYSEARCA:IPO – Get Free Report) shares traded down 2.9% during mid-day trading on Thursday . The company traded as low as $53.00 and last traded at $53.18. 23,041 shares traded hands during trading, a decline of 33% from the average session volume of 34,330 shares. The stock had previously closed at $54.75.

Renaissance IPO ETF Stock Down 2.9%

The stock has a 50 day moving average of $55.12 and a 200 day moving average of $48.82. The company has a market capitalization of $159.54 million, a price-to-earnings ratio of 35.63 and a beta of 1.33.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Hudson Value Partners LLC acquired a new position in shares of Renaissance IPO ETF in the 2nd quarter worth approximately $232,000. Key Client Fiduciary Advisors LLC acquired a new stake in shares of Renaissance IPO ETF during the second quarter worth $229,000. Parallel Advisors LLC increased its position in shares of Renaissance IPO ETF by 295.2% during the first quarter. Parallel Advisors LLC now owns 996 shares of the company’s stock worth $42,000 after buying an additional 744 shares during the period. Cetera Investment Advisers increased its position in shares of Renaissance IPO ETF by 8.7% during the first quarter. Cetera Investment Advisers now owns 71,805 shares of the company’s stock worth $3,007,000 after buying an additional 5,768 shares during the period. Finally, Wealthfront Advisers LLC raised its stake in Renaissance IPO ETF by 5.1% during the first quarter. Wealthfront Advisers LLC now owns 6,314 shares of the company’s stock worth $264,000 after buying an additional 308 shares during the last quarter.

About Renaissance IPO ETF

(Get Free Report)

The Renaissance IPO ETF (IPO) is an exchange-traded fund that is based on the FTSE Renaissance IPO index. The fund tracks a market cap-weighted index of recent US-listed IPOs. The fund acquires issues within 90 days or sooner after IPO and sells after 3 years. IPO was launched on Oct 14, 2013 and is managed by Renaissance.

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