ARK Innovation ETF (NYSEARCA:ARKK) Sets New 52-Week High – Should You Buy?

Shares of ARK Innovation ETF (NYSEARCA:ARKK) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $64.75 and last traded at $64.56, with a volume of 6518523 shares trading hands. The stock had previously closed at $62.68.

ARK Innovation ETF Stock Up 3.4 %

The business has a 50 day moving average price of $60.52 and a 200 day moving average price of $52.21.

Hedge Funds Weigh In On ARK Innovation ETF

Several large investors have recently made changes to their positions in ARKK. International Assets Investment Management LLC lifted its holdings in ARK Innovation ETF by 5,773.2% during the third quarter. International Assets Investment Management LLC now owns 1,589,348 shares of the company’s stock valued at $755,420,000 after purchasing an additional 1,562,287 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of ARK Innovation ETF in the 4th quarter valued at approximately $54,586,000. Strategic Financial Concepts LLC purchased a new position in ARK Innovation ETF in the fourth quarter worth approximately $514,000. Envestnet Asset Management Inc. lifted its stake in shares of ARK Innovation ETF by 69.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 535,428 shares of the company’s stock valued at $30,396,000 after purchasing an additional 219,092 shares during the last quarter. Finally, Total Investment Management Inc. grew its holdings in shares of ARK Innovation ETF by 16.9% during the 3rd quarter. Total Investment Management Inc. now owns 1,338,632 shares of the company’s stock worth $63,625,000 after purchasing an additional 193,251 shares during the period.

ARK Innovation ETF Company Profile

The ARK Innovation ETF (ARKK) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that seeks long-term capital growth from companies globally involved with, or that benefit from, disruptive innovation. ARKK was launched on Oct 31, 2014 and is managed by ARK.