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

ARK Fintech Innovation ETF (NYSEARCA:ARKF)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $42.72 and last traded at $42.60, with a volume of 104836 shares changing hands. The stock had previously closed at $42.04.

ARK Fintech Innovation ETF Price Performance

The stock’s fifty day simple moving average is $39.54 and its 200-day simple moving average is $33.56. The company has a market capitalization of $1.53 billion, a P/E ratio of 61.35 and a beta of 2.03.

Institutional Trading of ARK Fintech Innovation ETF

A number of hedge funds have recently modified their holdings of ARKF. Flow Traders U.S. LLC bought a new stake in ARK Fintech Innovation ETF during the third quarter valued at $7,416,000. Raymond James Financial Inc. purchased a new position in ARK Fintech Innovation ETF in the fourth quarter valued at approximately $3,378,000. Nwam LLC purchased a new stake in shares of ARK Fintech Innovation ETF during the third quarter worth $1,641,000. Synergy Asset Management LLC bought a new stake in ARK Fintech Innovation ETF during the 4th quarter worth approximately $1,873,000. Finally, Stratos Wealth Partners LTD. raised its stake in ARK Fintech Innovation ETF by 190.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 69,445 shares of the company’s stock valued at $2,573,000 after purchasing an additional 45,529 shares in 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.