Renaissance IPO ETF (NYSEARCA:IPO) Stock Price Up 1% – Should You Buy?

Renaissance IPO ETF (NYSEARCA:IPO) shares traded up 1% during trading on Thursday . The company traded as high as $42.43 and last traded at $42.43. 16,017 shares changed hands during trading, a decline of 44% from the average session volume of 28,532 shares. The stock had previously closed at $42.01.

Renaissance IPO ETF Price Performance

The firm has a market cap of $123.05 million, a P/E ratio of 35.63 and a beta of 1.35. The company’s 50 day moving average is $43.66 and its two-hundred day moving average is $46.37.

Institutional Trading of Renaissance IPO ETF

Hedge funds have recently modified their holdings of the company. Jefferies Financial Group Inc. grew its holdings in shares of Renaissance IPO ETF by 3.2% during the 4th quarter. Jefferies Financial Group Inc. now owns 7,532 shares of the company’s stock worth $344,000 after purchasing an additional 232 shares in the last quarter. Wealthfront Advisers LLC raised its stake in shares of Renaissance IPO ETF by 8.0% in the fourth quarter. Wealthfront Advisers LLC now owns 6,006 shares of the company’s stock valued at $274,000 after purchasing an additional 446 shares in the last quarter. HighTower Advisors LLC lifted its position in Renaissance IPO ETF by 7.5% in the fourth quarter. HighTower Advisors LLC now owns 7,225 shares of the company’s stock worth $330,000 after purchasing an additional 507 shares during the period. Raymond James Financial Inc. lifted its position in Renaissance IPO ETF by 7.1% in the third quarter. Raymond James Financial Inc. now owns 9,849 shares of the company’s stock worth $488,000 after purchasing an additional 650 shares during the period. Finally, Winthrop Capital Management LLC acquired a new stake in Renaissance IPO ETF during the third quarter worth $34,000.

Renaissance IPO ETF Company Profile

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.