Shares of Renaissance IPO ETF (NYSEARCA:IPO – Get Free Report) rose 2.2% on Tuesday. The stock traded as high as $49.66 and last traded at $49.53. Approximately 66,183 shares changed hands during mid-day trading, an increase of 129% from the average session volume of 28,887 shares. The stock had previously closed at $48.48.
Renaissance IPO ETF Stock Down 0.3%
The company’s 50-day moving average is $52.41 and its two-hundred day moving average is $50.34. The company has a market capitalization of $141.32 million, a P/E ratio of 35.63 and a beta of 1.37.
Hedge Funds Weigh In On Renaissance IPO ETF
Institutional investors have recently made changes to their positions in the stock. Wealthfront Advisers LLC lifted its holdings in shares of Renaissance IPO ETF by 5.1% during the 1st quarter. Wealthfront Advisers LLC now owns 6,314 shares of the company’s stock worth $264,000 after acquiring an additional 308 shares during the last quarter. Parallel Advisors LLC increased its stake in Renaissance IPO ETF by 295.2% in the first quarter. Parallel Advisors LLC now owns 996 shares of the company’s stock valued at $42,000 after acquiring an additional 744 shares during the last quarter. Elm3 Financial Group LLC increased its stake in Renaissance IPO ETF by 15.7% in the third quarter. Elm3 Financial Group LLC now owns 6,396 shares of the company’s stock valued at $337,000 after acquiring an additional 870 shares during the last quarter. NFSG Corp bought a new position in Renaissance IPO ETF in the first quarter valued at $42,000. Finally, Key Client Fiduciary Advisors LLC purchased a new stake in Renaissance IPO ETF during the second quarter valued at about $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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