Renaissance IPO ETF (NYSEARCA:IPO – Get Free Report)’s share price was down 2.6% during mid-day trading on Thursday . The company traded as low as $45.68 and last traded at $46.12. Approximately 41,363 shares changed hands during trading, an increase of 12% from the average daily volume of 36,840 shares. The stock had previously closed at $47.37.
Renaissance IPO ETF Stock Down 2.6%
The firm’s 50-day moving average is $46.78 and its 200-day moving average is $48.00. The company has a market cap of $138.36 million, a PE ratio of 35.63 and a beta of 1.35.
Institutional Investors Weigh In On Renaissance IPO ETF
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. lifted its position in Renaissance IPO ETF by 7.1% during the third quarter. Raymond James Financial Inc. now owns 9,849 shares of the company’s stock valued at $488,000 after buying an additional 650 shares during the period. Winthrop Capital Management LLC bought a new position in Renaissance IPO ETF during the 3rd quarter valued at approximately $34,000. Osaic Holdings Inc. boosted its holdings in 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 acquiring an additional 816 shares in the last quarter. Private Trust Co. NA purchased a new stake in shares of Renaissance IPO ETF in the third quarter worth $45,000. Finally, Jefferies Financial Group Inc. raised its position in shares of Renaissance IPO ETF by 18.2% in the 3rd quarter. Jefferies Financial Group Inc. now owns 7,300 shares of the company’s stock worth $362,000 after purchasing an additional 1,125 shares during the last quarter.
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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