Renaissance IPO ETF (NYSEARCA:IPO) Trading Down 2.9% – Should You Sell?

Renaissance IPO ETF (NYSEARCA:IPO)’s share price was down 2.9% during trading on Thursday . The stock traded as low as $53.00 and last traded at $53.18. Approximately 23,041 shares were traded during trading, a decline of 33% from the average daily volume of 34,330 shares. The stock had previously closed at $54.75.

Renaissance IPO ETF Trading Down 0.8%

The company’s 50-day moving average is $55.18 and its two-hundred day moving average is $48.85. The stock has a market capitalization of $158.34 million, a P/E ratio of 35.63 and a beta of 1.33.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Parallel Advisors LLC increased its stake in Renaissance IPO ETF by 295.2% during the 1st 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 acquired a new stake in shares of Renaissance IPO ETF in the 1st quarter worth approximately $42,000. Winthrop Capital Management LLC boosted its holdings in shares of Renaissance IPO ETF by 117.4% in the fourth quarter. Winthrop Capital Management LLC now owns 1,500 shares of the company’s stock valued at $68,000 after acquiring an additional 810 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Renaissance IPO ETF during the third quarter valued at approximately $101,000. Finally, Key Client Fiduciary Advisors LLC acquired a new stake in Renaissance IPO ETF in the second quarter worth approximately $229,000.

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.