Renaissance IPO ETF (NYSEARCA:IPO) Trading Up 1.7% – Here’s What Happened

Shares of 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 were traded 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 Trading Up 1.7%

The company has a market capitalization of $157.18 million, a P/E ratio of 35.63 and a beta of 1.35. The stock has a 50 day moving average price of $46.82 and a 200 day moving average price of $47.47.

Hedge Funds Weigh In On Renaissance IPO ETF

A number of hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers boosted its holdings in shares of Renaissance IPO ETF by 2.3% during the 2nd quarter. Cetera Investment Advisers now owns 68,570 shares of the company’s stock worth $3,082,000 after buying an additional 1,518 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Renaissance IPO ETF during the 2nd quarter valued at $230,000. Flow Traders U.S. LLC acquired a new position in shares of Renaissance IPO ETF during the 1st quarter valued at $1,099,000. Jefferies Financial Group Inc. bought a new position in Renaissance IPO ETF during the second quarter worth $278,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Renaissance IPO ETF in the third quarter worth $241,000.

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.