Renaissance IPO ETF (NYSEARCA:IPO) Stock Price Down 3.1% – Time to Sell?

Renaissance IPO ETF (NYSEARCA:IPO) fell 3.1% during mid-day trading on Thursday . The stock traded as low as $42.45 and last traded at $42.46. 17,055 shares changed 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 Trading Down 3.1%

The stock has a market capitalization of $127.38 million, a price-to-earnings ratio of 35.63 and a beta of 1.35. The firm has a 50-day moving average of $45.26 and a 200 day moving average of $47.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IPO. Winthrop Capital Management LLC acquired a new position in shares of Renaissance IPO ETF during the third quarter valued at $34,000. Private Trust Co. NA bought a new position in Renaissance IPO ETF in the 3rd quarter valued at about $45,000. Advisory Services Network LLC acquired a new position in Renaissance IPO ETF during the 3rd quarter valued at about $101,000. Certuity LLC acquired a new position in Renaissance IPO ETF during the 2nd quarter valued at about $220,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Renaissance IPO ETF during the 2nd quarter worth about $240,000.

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.