Renaissance IPO ETF (NYSEARCA:IPO) Shares Up 0.3% – Time to Buy?

Renaissance IPO ETF (NYSEARCA:IPO) shot up 0.3% during trading on Thursday . The stock traded as high as $44.73 and last traded at $44.70. 14,318 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 33,652 shares. The stock had previously closed at $44.58.

Renaissance IPO ETF Trading Up 0.3%

The business’s 50 day moving average price is $46.07 and its two-hundred day moving average price is $47.82. The stock has a market cap of $134.10 million, a P/E ratio of 35.63 and a beta of 1.35.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IPO. Royal Bank of Canada boosted its position in shares of Renaissance IPO ETF by 185.0% during the first quarter. Royal Bank of Canada now owns 11,820 shares of the company’s stock valued at $444,000 after purchasing an additional 7,672 shares in the last quarter. Cetera Investment Advisers raised its holdings in Renaissance IPO ETF by 2.3% in the second quarter. Cetera Investment Advisers now owns 68,570 shares of the company’s stock worth $3,082,000 after purchasing an additional 1,518 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Renaissance IPO ETF during the second quarter valued at $278,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Renaissance IPO ETF during the 2nd quarter valued at $240,000. Finally, Certuity LLC bought a new stake in shares of Renaissance IPO ETF during the 2nd quarter valued at $220,000.

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.