ETF Trends
ETF Trends

Newly public Italian automotive maker Ferrari (NYSE: RACE) already has a home in at least one exchange traded fund as Renaissance Capital, the issuer of the Renaissance IPO ETF (NYSEArca: IPO), confirmed it will add Ferrari to its lineup.

IPO “is a portfolio of the largest, most liquid U.S.-listed newly public companies prior to their inclusion in core U.S. equity portfolios. IPOs that pass Renaissance Capital’s formulated screening process are weighted by investable market capitalization, capped at 10% and removed after two years,” according to a statement released by Connecticut-based Renaissance Capital.

Ferrari “raised $893 million on Tuesday by offering 17.2 million shares at $52. At the pricing terms, Ferrari is going public with a market cap of $9.8 billion and qualifies for inclusion in the Renaissance IPO ETF at the market’s close on October 27, 2015,” according to a statement from Renaissance Capital.

IPO just added shares of First Data (NYSE: FDC).

“First Data, which provides payment processing to merchants and financial institutions, raised $2.6 billion by offering 160 million shares at $16. At the pricing terms, First Data commands a market value of $14.7 billion and qualifies for inclusion in the Renaissance IPO ETF at the market’s close on October 21, 2015,” said Renaissance Capital.

The $22.5 million currently holds 67 stocks. Top 10 holdings include Alibaba (NYSE: BABA), Twitter (NYSE: TWTR) and JD.com (NasdaqGS: JD).

Renaissance IPO ETF

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.