Investors betting that the bad times are over for Uber Technologies Inc. after a dismal trading debut will soon be able to express their views through an exchange-traded fund.
The $40 million Renaissance IPO ETF, known by its ticker IPO, plans to add Uber to its holdings on May 17, according to a statement from Renaissance Capital. While new companies are typically included at scheduled quarterly reviews, the fund can buy firms with at least $100 million of market capitalization as soon as five days after they start trading, said Kathleen Smith, manager of the fund.The ETF already owns Lyft Inc.
