Amplify Digital Payments ETF (NYSEARCA:IPAY) Stock Price Up 2.5% – Should You Buy?

Amplify Digital Payments ETF (NYSEARCA:IPAY)’s share price traded up 2.5% during mid-day trading on Monday. The company traded as high as $47.80 and last traded at $47.63. Approximately 94,013 shares traded hands during trading, an increase of 98% from the average session volume of 47,371 shares. The stock had previously closed at $46.46.

Amplify Digital Payments ETF Trading Up 2.5%

The stock has a market capitalization of $150.03 million, a P/E ratio of 22.03 and a beta of 1.24. The firm’s fifty day moving average is $50.01 and its 200-day moving average is $47.20.

Institutional Investors Weigh In On Amplify Digital Payments ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new stake in shares of Amplify Digital Payments ETF during the second quarter worth $75,000. Dynamic Advisor Solutions LLC acquired a new position in Amplify Digital Payments ETF during the 2nd quarter worth about $456,000. Parallel Advisors LLC lifted its position in Amplify Digital Payments ETF by 195.0% during the 1st quarter. Parallel Advisors LLC now owns 1,475 shares of the company’s stock worth $63,000 after buying an additional 975 shares in the last quarter. Royal Bank of Canada grew its holdings in Amplify Digital Payments ETF by 9.3% during the 1st quarter. Royal Bank of Canada now owns 41,543 shares of the company’s stock worth $1,778,000 after acquiring an additional 3,540 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its holdings in Amplify Digital Payments ETF by 10.3% during the 1st quarter. Wealthfront Advisers LLC now owns 9,792 shares of the company’s stock worth $419,000 after acquiring an additional 917 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.