Renaissance IPO ETF (NYSEARCA:IPO) Stock Jumps 0.5% – Time to Buy?

Renaissance IPO ETF (NYSEARCA:IPO) traded up 0.5% during trading on Tuesday. The stock traded as high as $56.00 and last traded at $54.98. Approximately 28,144 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 29,102 shares. The stock had previously closed at $54.70.

Renaissance IPO ETF Stock Performance

The company’s 50-day moving average price is $53.70 and its 200 day moving average price is $52.24. The stock has a market capitalization of $153.94 million, a PE ratio of 35.63 and a beta of 1.37.

Institutional Trading of Renaissance IPO ETF

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in shares of Renaissance IPO ETF by 295.2% during the 1st quarter. Parallel Advisors LLC now owns 996 shares of the company’s stock worth $42,000 after acquiring an additional 744 shares during the period. NFSG Corp purchased a new position in shares of Renaissance IPO ETF in the 1st quarter valued at approximately $42,000. Key Client Fiduciary Advisors LLC purchased a new position in shares of Renaissance IPO ETF in the 2nd quarter valued at approximately $229,000. Hudson Value Partners LLC bought a new stake in shares of Renaissance IPO ETF during the second quarter valued at approximately $232,000. Finally, Tempo Wealth LLC bought a new stake in shares of Renaissance IPO ETF during the fourth quarter valued at approximately $248,000.

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.