Renaissance IPO ETF (NYSEARCA:IPO) Shares Up 1% – Time to Buy?

Renaissance IPO ETF (NYSEARCA:IPO)’s share price traded up 1% on Thursday . The stock traded as high as $42.43 and last traded at $42.43. 16,017 shares were traded during trading, a decline of 44% from the average session volume of 28,532 shares. The stock had previously closed at $42.01.

Renaissance IPO ETF Trading Up 1.0%

The stock has a market cap of $127.29 million, a PE ratio of 35.63 and a beta of 1.35. The business has a fifty day simple moving average of $43.76 and a two-hundred day simple moving average of $46.44.

Hedge Funds Weigh In On Renaissance IPO ETF

A number of institutional investors have recently added to or reduced their stakes in IPO. Geneos Wealth Management Inc. purchased a new stake in shares of Renaissance IPO ETF in the 3rd quarter worth about $1,859,000. Private Trust Co. NA purchased a new position in Renaissance IPO ETF during the 3rd quarter valued at about $45,000. Key Client Fiduciary Advisors LLC purchased a new position in Renaissance IPO ETF during the 3rd quarter valued at about $270,000. Certuity LLC bought a new stake in Renaissance IPO ETF during the second quarter worth about $220,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in Renaissance IPO ETF during the second quarter worth about $240,000.

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.