Renaissance IPO ETF (NYSEARCA:IPO) Shares Down 0.4% – What’s Next?

Renaissance IPO ETF (NYSEARCA:IPO – Get Free Report)’s stock price traded down 0.4% during trading on Thursday . The company traded as low as $55.60 and last traded at $56.35. 75,882 shares changed hands during mid-day trading, an increase of 115% from the average daily volume of 35,271 shares. The stock had previously closed at $56.55.

Renaissance IPO ETF Price Performance

The company has a 50-day moving average of $52.79 and a 200 day moving average of $47.76. The company has a market cap of $163.41 million, a PE ratio of 35.63 and a beta of 1.35.

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Hedge Funds Weigh In On Renaissance IPO ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Winthrop Capital Management LLC purchased a new stake in Renaissance IPO ETF during the 3rd quarter valued at $34,000. Parallel Advisors LLC lifted its position in Renaissance IPO ETF by 295.2% in 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 last quarter. NFSG Corp purchased a new position in Renaissance IPO ETF during the first quarter worth $42,000. Advisory Services Network LLC purchased a new position in Renaissance IPO ETF during the third quarter worth $101,000. Finally, Tempo Wealth LLC bought a new position in Renaissance IPO ETF during the fourth quarter valued at $248,000.

About Renaissance IPO ETF

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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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