Amplify Digital Payments ETF (NYSEARCA:IPAY) Stock Price Down 2.2% – Here’s Why

Amplify Digital Payments ETF (NYSEARCA:IPAY – Get Free Report)’s share price fell 2.2% during mid-day trading on Monday. The stock traded as low as $48.31 and last traded at $48.48. Approximately 38,412 shares changed hands during trading, a decline of 20% from the average session volume of 47,992 shares. The stock had previously closed at $49.59.

Amplify Digital Payments ETF Trading Down 2.2%

The company has a market capitalization of $143.02 million, a P/E ratio of 22.03 and a beta of 1.24. The business has a 50 day moving average price of $49.39 and a 200 day moving average price of $47.43.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IPAY. Royal Bank of Canada raised its holdings in Amplify Digital Payments ETF by 9.3% in the first quarter. Royal Bank of Canada now owns 41,543 shares of the company’s stock worth $1,778,000 after purchasing an additional 3,540 shares during the period. Dynamic Advisor Solutions LLC bought a new position in shares of Amplify Digital Payments ETF during the second quarter worth $456,000. Wealthfront Advisers LLC grew its holdings in shares of Amplify Digital Payments ETF by 10.3% in the 1st quarter. Wealthfront Advisers LLC now owns 9,792 shares of the company’s stock valued at $419,000 after buying an additional 917 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Amplify Digital Payments ETF in the 3rd quarter valued at $309,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Amplify Digital Payments ETF in the 2nd quarter valued at $75,000.

Amplify Digital Payments ETF Company Profile

(Get Free Report)

The ETFMG Prime Mobile Payments ETF (IPAY) is an exchange-traded fund that is based on the Prime Mobile Payments index. The fund tracks an index of global equity in credit card firms, and companies providing payment infrastructure, payment services, payment processing and payment solutions. IPAY was launched on Jul 15, 2015 and is managed by ETF Managers Group.

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