Amplify Digital Payments ETF (NYSEARCA:IPAY) Stock Price Down 2.8% – Here’s What Happened

Shares of Amplify Digital Payments ETF (NYSEARCA:IPAY) traded down 2.8% during trading on Tuesday . The company traded as low as $49.98 and last traded at $49.98. Approximately 68,741 shares traded hands during mid-day trading, an increase of 60% from the average daily volume of 42,891 shares. The stock had previously closed at $51.41.

Amplify Digital Payments ETF Price Performance

The business’s 50-day moving average is $50.27 and its two-hundred day moving average is $46.80. The firm has a market cap of $179.93 million, a P/E ratio of 22.03 and a beta of 1.22.

Hedge Funds Weigh In On Amplify Digital Payments ETF

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC acquired a new stake in shares of Amplify Digital Payments ETF in the fourth quarter valued at about $26,000. Steward Partners Investment Advisory LLC boosted its position in Amplify Digital Payments ETF by 467.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 567 shares of the company’s stock valued at $30,000 after purchasing an additional 467 shares during the last quarter. Y.D. More Investments Ltd acquired a new position in Amplify Digital Payments ETF during the first quarter valued at approximately $33,000. Advisory Services Network LLC bought a new position in Amplify Digital Payments ETF in the third quarter valued at approximately $42,000. Finally, Fifth Third Bancorp bought a new position in Amplify Digital Payments ETF in the first quarter valued at approximately $47,000.

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.