Renaissance IPO ETF (NYSEARCA:IPO) Stock Price Down 3.1% – Here’s Why

Shares of Renaissance IPO ETF (NYSEARCA:IPO) traded down 3.1% on Thursday . The stock traded as low as $42.45 and last traded at $42.46. 17,055 shares traded hands during trading, a decline of 43% from the average session volume of 30,003 shares. The stock had previously closed at $43.80.

Renaissance IPO ETF Stock Up 0.4%

The stock has a fifty day moving average of $45.17 and a 200-day moving average of $47.20. The firm has a market capitalization of $127.95 million, a P/E ratio of 35.63 and a beta of 1.35.

Institutional Trading of Renaissance IPO ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jefferies Financial Group Inc. increased its stake in Renaissance IPO ETF by 3.2% in the 4th quarter. Jefferies Financial Group Inc. now owns 7,532 shares of the company’s stock valued at $344,000 after buying an additional 232 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in shares of Renaissance IPO ETF by 8.0% in the 4th quarter. Wealthfront Advisers LLC now owns 6,006 shares of the company’s stock valued at $274,000 after acquiring an additional 446 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Renaissance IPO ETF by 7.5% in the fourth quarter. HighTower Advisors LLC now owns 7,225 shares of the company’s stock valued at $330,000 after acquiring an additional 507 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Renaissance IPO ETF by 7.1% in the third quarter. Raymond James Financial Inc. now owns 9,849 shares of the company’s stock valued at $488,000 after acquiring an additional 650 shares during the last quarter. Finally, Winthrop Capital Management LLC bought a new stake in Renaissance IPO ETF during the third quarter worth about $34,000.

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.