Renaissance IPO ETF (NYSEARCA:IPO – Get Free Report) shares traded up 2.2% during mid-day trading on Tuesday. The stock traded as high as $49.66 and last traded at $49.53. 66,183 shares traded hands during trading, an increase of 129% from the average daily volume of 28,887 shares. The stock had previously closed at $48.48.
Renaissance IPO ETF Price Performance
The firm has a 50 day moving average price of $52.49 and a 200-day moving average price of $50.33. The firm has a market cap of $138.68 million, a price-to-earnings ratio of 35.63 and a beta of 1.37.
Institutional Trading of Renaissance IPO ETF
Several institutional investors and hedge funds have recently added to or reduced their stakes in IPO. Parallel Advisors LLC raised its holdings in Renaissance IPO ETF by 295.2% during the 1st quarter. Parallel Advisors LLC now owns 996 shares of the company’s stock worth $42,000 after purchasing an additional 744 shares during the last quarter. NFSG Corp acquired a new position in Renaissance IPO ETF during the 1st quarter valued at about $42,000. Key Client Fiduciary Advisors LLC bought a new position in shares of Renaissance IPO ETF in the 2nd quarter valued at about $229,000. Hudson Value Partners LLC bought a new position in shares of Renaissance IPO ETF in the 2nd quarter valued at about $232,000. Finally, Wealthfront Advisers LLC boosted its stake in shares of Renaissance IPO ETF by 5.1% in the 1st quarter. Wealthfront Advisers LLC now owns 6,314 shares of the company’s stock valued at $264,000 after purchasing an additional 308 shares during the last quarter.
Renaissance IPO ETF Company Profile
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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