Renaissance IPO ETF (NYSEARCA:IPO) Stock Price Up 1% – Still a Buy?

Renaissance IPO ETF (NYSEARCA:IPO) traded up 1% on Thursday . The company traded as high as $45.50 and last traded at $45.42. 9,428 shares were traded during mid-day trading, a decline of 51% from the average session volume of 19,303 shares. The stock had previously closed at $44.95.

Renaissance IPO ETF Trading Up 1.2 %

The stock has a market cap of $206.87 million, a PE ratio of 44.34 and a beta of 1.70. The firm has a fifty day simple moving average of $45.38 and a two-hundred day simple moving average of $43.05.

Institutional Investors Weigh In On Renaissance IPO ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tradition Wealth Management LLC increased its holdings in shares of Renaissance IPO ETF by 1.0% in the 3rd quarter. Tradition Wealth Management LLC now owns 133,726 shares of the company’s stock worth $5,734,000 after buying an additional 1,367 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in Renaissance IPO ETF by 14.5% in the third quarter. Dynamic Advisor Solutions LLC now owns 12,012 shares of the company’s stock valued at $515,000 after acquiring an additional 1,525 shares during the last quarter. Main Management ETF Advisors LLC raised its position in Renaissance IPO ETF by 0.8% during the second quarter. Main Management ETF Advisors LLC now owns 365,660 shares of the company’s stock valued at $14,740,000 after purchasing an additional 2,820 shares in the last quarter. International Assets Investment Management LLC raised its position in Renaissance IPO ETF by 4,188.0% during the third quarter. International Assets Investment Management LLC now owns 3,945 shares of the company’s stock valued at $169,000 after purchasing an additional 3,853 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in Renaissance IPO ETF during the third quarter worth about $207,000.

About Renaissance IPO ETF

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.