Renaissance IPO ETF (NYSEARCA:IPO) Stock Price Down 1.7% – Should You Sell?

Renaissance IPO ETF (NYSEARCA:IPO)’s stock price traded down 1.7% during mid-day trading on Thursday . The company traded as low as $48.36 and last traded at $48.95. 27,032 shares changed hands during trading, a decline of 7% from the average session volume of 29,077 shares. The stock had previously closed at $49.78.

Renaissance IPO ETF Stock Performance

The business’s 50 day moving average is $44.15 and its 200-day moving average is $45.93. The stock has a market cap of $141.96 million, a price-to-earnings ratio of 35.63 and a beta of 1.27.

Institutional Trading of Renaissance IPO ETF

Several institutional investors have recently modified their holdings of IPO. Tempo Wealth LLC purchased a new stake in shares of Renaissance IPO ETF during the fourth quarter worth about $248,000. Royal Bank of Canada lifted its stake in Renaissance IPO ETF by 1,019.4% in the 4th quarter. Royal Bank of Canada now owns 79,277 shares of the company’s stock valued at $3,619,000 after buying an additional 72,195 shares in the last quarter. Stifel Financial Corp purchased a new position in Renaissance IPO ETF in the 4th quarter valued at about $283,000. Goldman Sachs Group Inc. boosted its holdings in Renaissance IPO ETF by 15.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 137,196 shares of the company’s stock worth $6,263,000 after buying an additional 18,839 shares during the last quarter. Finally, Winthrop Capital Management LLC boosted its holdings in Renaissance IPO ETF by 117.4% in the 4th quarter. Winthrop Capital Management LLC now owns 1,500 shares of the company’s stock worth $68,000 after buying an additional 810 shares during the last quarter.

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.