ARK Fintech Innovation ETF (NYSEARCA:ARKF) Sets New 1-Year High – Time to Buy?

ARK Fintech Innovation ETF (NYSEARCA:ARKF) shares reached a new 52-week high on Friday . The company traded as high as $39.49 and last traded at $39.41, with a volume of 33971 shares traded. The stock had previously closed at $39.23.

ARK Fintech Innovation ETF Stock Performance

The company has a market cap of $1.43 billion, a PE ratio of 61.35 and a beta of 2.03. The firm’s 50 day moving average is $32.96 and its 200-day moving average is $29.48.

Hedge Funds Weigh In On ARK Fintech Innovation ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its holdings in ARK Fintech Innovation ETF by 764.0% in the 1st quarter. Jane Street Group LLC now owns 460,977 shares of the company’s stock valued at $13,981,000 after purchasing an additional 407,625 shares during the last quarter. Cetera Investment Advisers grew its position in ARK Fintech Innovation ETF by 833.5% in the first quarter. Cetera Investment Advisers now owns 121,722 shares of the company’s stock worth $3,692,000 after acquiring an additional 108,683 shares during the period. CWM LLC increased its stake in ARK Fintech Innovation ETF by 1.9% during the second quarter. CWM LLC now owns 45,122 shares of the company’s stock worth $1,257,000 after acquiring an additional 845 shares during the last quarter. Granite Bay Wealth Management LLC raised its position in ARK Fintech Innovation ETF by 2,966.5% in the second quarter. Granite Bay Wealth Management LLC now owns 422,262 shares of the company’s stock valued at $11,844,000 after purchasing an additional 408,492 shares during the period. Finally, Insight Advisors LLC PA lifted its stake in shares of ARK Fintech Innovation ETF by 8.3% in the 2nd quarter. Insight Advisors LLC PA now owns 15,938 shares of the company’s stock valued at $444,000 after purchasing an additional 1,223 shares during the last quarter.

About ARK Fintech Innovation ETF

The ARK Fintech Innovation ETF (ARKF) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund of stocks related to financial technology innovation. ARKF was launched on Feb 4, 2019 and is managed by ARK.