Renaissance IPO ETF (NYSEARCA:IPO) Shares Down 0.7% – Here’s Why

Renaissance IPO ETF (NYSEARCA:IPO)’s stock price was down 0.7% on Thursday . The stock traded as low as $53.60 and last traded at $54.11. 33,148 shares were traded during trading, an increase of 1% from the average session volume of 32,863 shares. The stock had previously closed at $54.50.

Renaissance IPO ETF Trading Up 2.5%

The firm’s fifty day moving average price is $55.56 and its 200-day moving average price is $49.46. The firm has a market cap of $160.86 million, a price-to-earnings ratio of 35.63 and a beta of 1.35.

Hedge Funds Weigh In On Renaissance IPO ETF

Several large investors have recently bought and sold shares of IPO. Goldman Sachs Group Inc. grew its holdings in shares of Renaissance IPO ETF by 15.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 137,196 shares of the company’s stock worth $6,263,000 after purchasing an additional 18,839 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Renaissance IPO ETF by 1,019.4% in the 4th quarter. Royal Bank of Canada now owns 79,277 shares of the company’s stock valued at $3,619,000 after purchasing an additional 72,195 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Renaissance IPO ETF by 8.7% in the 1st quarter. Cetera Investment Advisers now owns 71,805 shares of the company’s stock valued at $3,007,000 after purchasing an additional 5,768 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Renaissance IPO ETF in the 3rd quarter valued at about $3,553,000. Finally, Tower Research Capital LLC TRC grew its stake in Renaissance IPO ETF by 7,375.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 22,127 shares of the company’s stock worth $1,097,000 after buying an additional 21,831 shares during 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.