Renaissance IPO ETF (NYSEARCA:IPO) Shares Up 1.7% – Time to Buy?

Renaissance IPO ETF (NYSEARCA:IPO) shot up 1.7% during trading on Monday . The company traded as high as $47.86 and last traded at $47.63. 64,645 shares traded hands during mid-day trading, an increase of 1% from the average session volume of 63,708 shares. The stock had previously closed at $46.83.

Renaissance IPO ETF Price Performance

The stock has a market cap of $154.74 million, a PE ratio of 35.63 and a beta of 1.35. The company has a 50 day moving average price of $46.72 and a two-hundred day moving average price of $47.49.

Institutional Trading of Renaissance IPO ETF

A number of institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers grew its position in Renaissance IPO ETF by 2.3% during the second quarter. Cetera Investment Advisers now owns 68,570 shares of the company’s stock valued at $3,082,000 after buying an additional 1,518 shares during the period. PFG Investments LLC purchased a new position in shares of Renaissance IPO ETF during the 2nd quarter worth $230,000. Jefferies Financial Group Inc. bought a new stake in shares of Renaissance IPO ETF during the 2nd quarter valued at $278,000. Winthrop Capital Management LLC purchased a new stake in shares of Renaissance IPO ETF in the 3rd quarter worth $34,000. Finally, Lansing Street Advisors purchased a new stake in shares of Renaissance IPO ETF in the 3rd quarter worth $262,000.

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.