Renaissance IPO ETF (NYSEARCA:IPO) Trading 1.4% Higher – Here’s Why

Renaissance IPO ETF (NYSEARCA:IPO) rose 1.4% during mid-day trading on Thursday . The stock traded as high as $50.69 and last traded at $50.48. Approximately 33,323 shares changed hands during trading, an increase of 20% from the average daily volume of 27,700 shares. The stock had previously closed at $49.77.

Renaissance IPO ETF Stock Up 1.4%

The firm’s 50-day simple moving average is $45.62 and its 200-day simple moving average is $45.87. The firm has a market capitalization of $146.39 million, a PE ratio of 35.63 and a beta of 1.32.

Institutional Trading of Renaissance IPO ETF

Institutional investors have recently added to or reduced their stakes in the business. Winthrop Capital Management LLC purchased a new stake in Renaissance IPO ETF during the third quarter valued at about $34,000. Parallel Advisors LLC boosted its position in Renaissance IPO ETF by 295.2% during the first quarter. Parallel Advisors LLC now owns 996 shares of the company’s stock valued at $42,000 after buying an additional 744 shares during the period. NFSG Corp purchased a new stake in Renaissance IPO ETF during the first quarter valued at about $42,000. Advisory Services Network LLC purchased a new stake in Renaissance IPO ETF during the third quarter valued at about $101,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Renaissance IPO ETF during the third quarter valued at about $241,000.

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.