Renaissance IPO ETF (NYSEARCA:IPO) Trading Down 1.3% – Here’s What Happened

Shares of Renaissance IPO ETF (NYSEARCA:IPO) were down 1.3% on Tuesday . The stock traded as low as $50.98 and last traded at $51.10. 7,924 shares changed hands during trading, a decline of 74% from the average session volume of 30,432 shares. The stock had previously closed at $51.75.

Renaissance IPO ETF Stock Performance

The business’s 50 day moving average is $53.96 and its 200-day moving average is $51.20. The stock has a market cap of $148.19 million, a price-to-earnings ratio of 35.63 and a beta of 1.35.

Institutional Trading of Renaissance IPO ETF

Several institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC lifted its stake in Renaissance IPO ETF by 295.2% in the 1st quarter. Parallel Advisors LLC now owns 996 shares of the company’s stock valued at $42,000 after buying an additional 744 shares in the last quarter. NFSG Corp purchased a new stake in Renaissance IPO ETF during the 1st quarter worth approximately $42,000. Winthrop Capital Management LLC increased its stake in Renaissance IPO ETF by 117.4% during the 4th quarter. Winthrop Capital Management LLC now owns 1,500 shares of the company’s stock worth $68,000 after buying an additional 810 shares in the last quarter. Key Client Fiduciary Advisors LLC acquired a new position in shares of Renaissance IPO ETF during the second quarter valued at approximately $229,000. Finally, Hudson Value Partners LLC acquired a new position in shares of Renaissance IPO ETF during the second quarter valued at approximately $232,000.

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.