Amplify Digital Payments ETF (NYSEARCA:IPAY) Stock Price Down 2.2% – What’s Next?

Amplify Digital Payments ETF (NYSEARCA:IPAY) shares traded down 2.2% during mid-day trading on Monday. The stock traded as low as $48.31 and last traded at $48.48. Approximately 38,412 shares changed hands during trading, a decline of 20% from the average session volume of 47,992 shares. The stock had previously closed at $49.59.

Amplify Digital Payments ETF Trading Down 2.2%

The firm has a fifty day simple moving average of $49.39 and a 200 day simple moving average of $47.43. The stock has a market cap of $143.02 million, a price-to-earnings ratio of 22.03 and a beta of 1.24.

Institutional Trading of Amplify Digital Payments ETF

A number of institutional investors and hedge funds have recently modified their holdings of the company. Oppenheimer & Co. Inc. bought a new position in shares of Amplify Digital Payments ETF in the 3rd quarter worth $309,000. Integrated Wealth Concepts LLC bought a new stake in Amplify Digital Payments ETF in the second quarter valued at about $75,000. Dynamic Advisor Solutions LLC bought a new stake in Amplify Digital Payments ETF in the second quarter valued at about $456,000. Parallel Advisors LLC increased its holdings in Amplify Digital Payments ETF by 195.0% in the first quarter. Parallel Advisors LLC now owns 1,475 shares of the company’s stock valued at $63,000 after purchasing an additional 975 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Amplify Digital Payments ETF by 9.3% in the first quarter. Royal Bank of Canada now owns 41,543 shares of the company’s stock valued at $1,778,000 after buying an additional 3,540 shares during the period.

Amplify Digital Payments ETF Company Profile

The ETFMG Prime Mobile Payments ETF (IPAY) is an exchange-traded fund that is based on the Prime Mobile Payments index. The fund tracks an index of global equity in credit card firms, and companies providing payment infrastructure, payment services, payment processing and payment solutions. IPAY was launched on Jul 15, 2015 and is managed by ETF Managers Group.