Renaissance IPO ETF (NYSEARCA:IPO) Trading Down 1.3% – Time to Sell?

Renaissance IPO ETF (NYSEARCA:IPO) shares traded down 1.3% during trading on Tuesday . The stock traded as low as $50.98 and last traded at $51.10. Approximately 7,924 shares were traded during trading, a decline of 74% from the average daily volume of 30,432 shares. The stock had previously closed at $51.75.

Renaissance IPO ETF Stock Performance

The company has a 50 day moving average of $53.96 and a 200 day moving average of $51.20. The stock has a market capitalization of $148.19 million, a price-to-earnings ratio of 35.63 and a beta of 1.35.

Institutional Investors Weigh In On Renaissance IPO ETF

Hedge funds have recently modified their holdings of the business. Jefferies Financial Group Inc. lifted its stake in shares of Renaissance IPO ETF by 3.2% in the fourth quarter. Jefferies Financial Group Inc. now owns 7,532 shares of the company’s stock worth $344,000 after buying an additional 232 shares in the last quarter. Wealthfront Advisers LLC grew its stake in Renaissance IPO ETF by 5.1% during the 1st quarter. Wealthfront Advisers LLC now owns 6,314 shares of the company’s stock valued at $264,000 after acquiring an additional 308 shares in the last quarter. Parallel Advisors LLC grew its stake in Renaissance IPO ETF by 295.2% during the 1st quarter. Parallel Advisors LLC now owns 996 shares of the company’s stock valued at $42,000 after acquiring an additional 744 shares in the last quarter. Winthrop Capital Management LLC raised its holdings in Renaissance IPO ETF by 117.4% in the 4th quarter. Winthrop Capital Management LLC now owns 1,500 shares of the company’s stock valued at $68,000 after acquiring an additional 810 shares during the last quarter. Finally, NFSG Corp acquired a new stake in Renaissance IPO ETF in the 1st quarter valued at about $42,000.

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.