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

Amplify Digital Payments ETF (NYSEARCA:IPAY) shares traded down 2.8% on Tuesday . The company traded as low as $49.98 and last traded at $49.98. 68,741 shares changed 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 Stock Down 2.8%

The company’s fifty day moving average price is $50.27 and its two-hundred day moving average price is $46.80. The company has a market cap of $179.93 million, a price-to-earnings ratio of 22.03 and a beta of 1.22.

Hedge Funds Weigh In On Amplify Digital Payments ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Engines Advisors L.L.C. boosted its position in shares of Amplify Digital Payments ETF by 7.7% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 62,912 shares of the company’s stock worth $3,274,000 after buying an additional 4,491 shares during the period. Royal Bank of Canada raised its position in Amplify Digital Payments ETF by 9.3% in the 1st quarter. Royal Bank of Canada now owns 41,543 shares of the company’s stock valued at $1,778,000 after buying an additional 3,540 shares during the last quarter. Jane Street Group LLC lifted its stake in Amplify Digital Payments ETF by 37.3% in the 4th quarter. Jane Street Group LLC now owns 29,671 shares of the company’s stock valued at $1,544,000 after acquiring an additional 8,065 shares in the last quarter. Bank of Montreal Can boosted its position in Amplify Digital Payments ETF by 1,242.6% during the 4th quarter. Bank of Montreal Can now owns 24,033 shares of the company’s stock worth $1,251,000 after acquiring an additional 22,243 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in Amplify Digital Payments ETF by 36.8% during the 2nd quarter. Osaic Holdings Inc. now owns 15,129 shares of the company’s stock worth $907,000 after acquiring an additional 4,068 shares during the last quarter.

About Amplify Digital Payments ETF

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.