Renaissance IPO ETF (NYSEARCA:IPO) Shares Down 0.3% – Should You Sell?

Shares of Renaissance IPO ETF (NYSEARCA:IPO) were down 0.3% during trading on Thursday . The company traded as low as $55.54 and last traded at $56.69. Approximately 29,459 shares traded hands during mid-day trading, a decline of 0% from the average daily volume of 29,545 shares. The stock had previously closed at $56.85.

Renaissance IPO ETF Stock Performance

The stock’s 50 day simple moving average is $48.76 and its two-hundred day simple moving average is $46.55. The firm has a market capitalization of $164.40 million, a PE ratio of 35.63 and a beta of 1.35.

Institutional Trading of Renaissance IPO ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in IPO. Winthrop Capital Management LLC acquired a new stake in shares of Renaissance IPO ETF during the 3rd quarter worth approximately $34,000. Parallel Advisors LLC increased its holdings in shares of Renaissance IPO ETF by 295.2% during the 1st quarter. Parallel Advisors LLC now owns 996 shares of the company’s stock worth $42,000 after buying an additional 744 shares during the last quarter. NFSG Corp acquired a new stake in shares of Renaissance IPO ETF during the 1st quarter worth approximately $42,000. Advisory Services Network LLC acquired a new stake in shares of Renaissance IPO ETF during the 3rd quarter worth approximately $101,000. Finally, Tempo Wealth LLC acquired a new stake in shares of Renaissance IPO ETF during the 4th quarter worth approximately $248,000.

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.