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The Mid Cap US Equity Select ETF (the "Fund") seeks investment results that correspond generally to the price and yield (before the Funds fees and expenses) of an equity index called the Nasdaq Riskalyze Mid Cap US Equity Select Index (the "Index"). The Fund will normally invest at least 90% of its net assets (including investment borrowings) in common stocks that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Funds investment advisor seeks a correlation of 0.95 or better (before fees and expenses) between the Funds performance and the performance of the Index; a figure of 1.00 would represent perfect correlation. The Nasdaq Riskalyze US Mid Cap Index is a modified market capitalization weighted index which seeks to provide a diversified portfolio of dividend-paying US mid cap securities.
Mid Cap US Equity Select ETF trades on the NASDAQ stock market under the symbol RNMC.
As of May 2, 2024, RNMC stock price climbed to $31.59 with 563 million shares trading.
RNMC has a market cap of $17.38 million. This is considered a Sub-Micro Cap stock.
In the last 3 years, RNMC stock traded as high as $33.24 and as low as $24.06.
RNMC has underperformed the market in the last year with a return of +16.5%, while the SPY ETF gained +23.2%. In the last 3 month period, RNMC fell short of the market, returning +2.7%, while SPY returned +3.6%. However, in the most recent 2 weeks RNMC has outperformed the stock market by returning +2.3%, while SPY returned +0.9%.
RNMC support price is $31.07 and resistance is $31.59 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that RNMC stock will trade within this expected range on the day.