Renaissance IPO ETF (NYSEARCA:IPO) Trading Down 0.4% – Here’s What Happened
by Tristan Rich · The Markets DailyShares of Renaissance IPO ETF (NYSEARCA:IPO – Get Free Report) were down 0.4% during trading on Thursday . The stock traded as low as $55.60 and last traded at $56.35. Approximately 75,882 shares were traded during mid-day trading, an increase of 115% from the average session volume of 35,271 shares. The stock had previously closed at $56.55.
Renaissance IPO ETF Trading Up 1.0%
The firm has a market capitalization of $165.07 million, a PE ratio of 35.63 and a beta of 1.35. The stock’s 50 day moving average price is $52.97 and its two-hundred day moving average price is $47.82.
Hedge Funds Weigh In On Renaissance IPO ETF
Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in shares of Renaissance IPO ETF by 185.0% in the first quarter. Royal Bank of Canada now owns 11,820 shares of the company’s stock valued at $444,000 after acquiring an additional 7,672 shares in the last quarter. Osaic Holdings Inc. raised its stake in Renaissance IPO ETF by 7.0% in the 2nd quarter. Osaic Holdings Inc. now owns 12,548 shares of the company’s stock valued at $564,000 after purchasing an additional 816 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Renaissance IPO ETF in the 3rd quarter valued at about $424,000. Lansing Street Advisors purchased a new position in Renaissance IPO ETF in the 3rd quarter valued at about $262,000. Finally, Jefferies Financial Group Inc. lifted its holdings in Renaissance IPO ETF by 18.2% in the 3rd quarter. Jefferies Financial Group Inc. now owns 7,300 shares of the company’s stock valued at $362,000 after purchasing an additional 1,125 shares in 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.