Shares of Renaissance IPO ETF (NYSEARCA:IPO – Get Free Report) shot up 0.5% during trading on Tuesday. The company traded as high as $56.00 and last traded at $54.98. 28,144 shares were traded during trading, a decline of 3% from the average daily volume of 29,102 shares. The stock had previously closed at $54.70.
Renaissance IPO ETF Stock Performance
The stock’s 50-day moving average price is $53.70 and its two-hundred day moving average price is $52.24. The stock has a market capitalization of $153.94 million, a PE ratio of 35.63 and a beta of 1.37.
Institutional Investors Weigh In On Renaissance IPO ETF
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers increased its stake in shares of Renaissance IPO ETF by 8.7% during the first quarter. Cetera Investment Advisers now owns 71,805 shares of the company’s stock valued at $3,007,000 after purchasing an additional 5,768 shares in the last quarter. Wealthfront Advisers LLC boosted its position 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 worth $264,000 after purchasing an additional 308 shares in the last quarter. Tempo Wealth LLC purchased a new stake in shares of Renaissance IPO ETF in the 4th quarter worth approximately $248,000. Hudson Value Partners LLC purchased a new stake in shares of Renaissance IPO ETF in the 2nd quarter worth approximately $232,000. Finally, Key Client Fiduciary Advisors LLC bought a new position in Renaissance IPO ETF during the 2nd quarter valued at approximately $229,000.
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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