Renaissance IPO ETF (NYSEARCA:IPO) Trading Down 0.7% – Should You Sell?

Renaissance IPO ETF (NYSEARCA:IPO)’s stock price dropped 0.7% during trading on Thursday . The company traded as low as $53.60 and last traded at $54.11. 33,148 shares were traded during mid-day trading, an increase of 1% from the average session volume of 32,863 shares. The stock had previously closed at $54.50.

Renaissance IPO ETF Trading Down 0.7%

The stock has a market cap of $156.92 million, a PE ratio of 35.63 and a beta of 1.35. The business has a 50-day moving average price of $55.58 and a 200 day moving average price of $49.42.

Institutional Investors Weigh In On Renaissance IPO ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in shares of Renaissance IPO ETF by 295.2% in the first 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 bought a new stake in shares of Renaissance IPO ETF during the 1st quarter valued at $42,000. Winthrop Capital Management LLC lifted its holdings in Renaissance IPO ETF by 117.4% during the 4th quarter. Winthrop Capital Management LLC now owns 1,500 shares of the company’s stock worth $68,000 after purchasing an additional 810 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Renaissance IPO ETF during the 3rd quarter worth about $101,000. Finally, Key Client Fiduciary Advisors LLC bought a new position in Renaissance IPO ETF in the 2nd quarter worth about $229,000.

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.