Amplify Digital Payments ETF (NYSEARCA:IPAY) Stock Falls 2.2% – Here’s Why

Amplify Digital Payments ETF (NYSEARCA:IPAY) fell 2.2% during mid-day trading on Monday. The stock traded as low as $48.31 and last traded at $48.48. 38,412 shares changed hands during trading, a decline of 20% from the average daily volume of 47,992 shares. The stock had previously closed at $49.59.

Amplify Digital Payments ETF Stock Up 0.1%

The firm has a market capitalization of $142.78 million, a PE ratio of 22.03 and a beta of 1.24. The stock’s fifty day simple moving average is $49.34 and its 200 day simple moving average is $47.40.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Y.D. More Investments Ltd bought a new position in Amplify Digital Payments ETF in the 1st quarter worth $33,000. Fifth Third Bancorp bought a new position in Amplify Digital Payments ETF during the first quarter valued at $47,000. Parallel Advisors LLC increased its stake in Amplify Digital Payments ETF by 195.0% in the first quarter. Parallel Advisors LLC now owns 1,475 shares of the company’s stock worth $63,000 after purchasing an additional 975 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Amplify Digital Payments ETF during the second quarter valued at approximately $75,000. Finally, Oppenheimer & Co. Inc. bought a new position in Amplify Digital Payments ETF during the 3rd quarter worth about $309,000.

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.