Shares of Renaissance IPO ETF (NYSEARCA:IPO – Get Free Report) fell 2.9% during trading on Thursday . The company traded as low as $53.00 and last traded at $53.18. Approximately 23,041 shares changed 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 company has a 50 day moving average price of $55.12 and a 200-day moving average price of $48.82. The company has a market cap of $159.54 million, a price-to-earnings ratio of 35.63 and a beta of 1.33.
Hedge Funds Weigh In On Renaissance IPO ETF
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in shares of Renaissance IPO ETF by 185.0% during the first quarter. Royal Bank of Canada now owns 11,820 shares of the company’s stock valued at $444,000 after acquiring an additional 7,672 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Renaissance IPO ETF by 7.0% in the second quarter. Osaic Holdings Inc. now owns 12,548 shares of the company’s stock worth $564,000 after purchasing an additional 816 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Renaissance IPO ETF in the third quarter worth $424,000. Jefferies Financial Group Inc. increased its holdings in Renaissance IPO ETF by 18.2% in the third quarter. Jefferies Financial Group Inc. now owns 7,300 shares of the company’s stock valued at $362,000 after purchasing an additional 1,125 shares during the period. Finally, UBS Group AG lifted its holdings in Renaissance IPO ETF by 21.5% during the 3rd quarter. UBS Group AG now owns 18,144 shares of the company’s stock worth $899,000 after buying an additional 3,211 shares during the period.
About Renaissance IPO ETF
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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