Amplify Digital Payments ETF (NYSEARCA:IPAY) Stock Price Down 0.5% – What’s Next?

Amplify Digital Payments ETF (NYSEARCA:IPAY)’s share price dropped 0.5% during trading on Tuesday . The company traded as low as $48.34 and last traded at $48.55. Approximately 24,159 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 34,966 shares. The stock had previously closed at $48.77.

Amplify Digital Payments ETF Stock Performance

The business has a 50 day moving average of $45.47 and a two-hundred day moving average of $46.74. The firm has a market capitalization of $160.22 million, a price-to-earnings ratio of 22.03 and a beta of 1.23.

Hedge Funds Weigh In On Amplify Digital Payments ETF

A number of institutional investors have recently modified their holdings of IPAY. Bank of Montreal Can lifted its holdings in shares of Amplify Digital Payments ETF by 1,242.6% in the 4th quarter. Bank of Montreal Can now owns 24,033 shares of the company’s stock worth $1,251,000 after purchasing an additional 22,243 shares in the last quarter. Everhart Financial Group Inc. bought a new stake in Amplify Digital Payments ETF during the 4th quarter valued at $722,000. Tocqueville Asset Management L.P. acquired a new position in Amplify Digital Payments ETF during the fourth quarter worth $693,000. Jane Street Group LLC raised its holdings in Amplify Digital Payments ETF by 88.6% during the second quarter. Jane Street Group LLC now owns 21,500 shares of the company’s stock worth $1,288,000 after buying an additional 10,101 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of Amplify Digital Payments ETF in the second quarter valued at $456,000.

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.