Renaissance IPO ETF (NYSEARCA:IPO) Shares Down 1.7% – What’s Next?

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

Renaissance IPO ETF Stock Down 1.7%

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

Institutional Investors Weigh In On Renaissance IPO ETF

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its stake in shares of Renaissance IPO ETF by 15.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 137,196 shares of the company’s stock valued at $6,263,000 after purchasing an additional 18,839 shares in the last quarter. Royal Bank of Canada boosted its position in Renaissance IPO ETF by 1,019.4% during the fourth quarter. Royal Bank of Canada now owns 79,277 shares of the company’s stock worth $3,619,000 after purchasing an additional 72,195 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Renaissance IPO ETF in the third quarter valued at approximately $3,553,000. Geneos Wealth Management Inc. acquired a new stake in Renaissance IPO ETF in the third quarter valued at approximately $1,859,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Renaissance IPO ETF by 7,375.3% in the third quarter. Tower Research Capital LLC TRC now owns 22,127 shares of the company’s stock valued at $1,097,000 after buying an additional 21,831 shares in the last quarter.

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.