Arbor Capital Management Inc. ADV Sells 9,662 Shares of ARK Innovation ETF (NYSEARCA:ARKK)

Arbor Capital Management Inc. ADV cut its stake in ARK Innovation ETF (NYSEARCA:ARKK) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,457 shares of the company’s stock after selling 9,662 shares during the period. ARK Innovation ETF accounts for 3.0% of Arbor Capital Management Inc. ADV’s portfolio, making the stock its 2nd largest position. Arbor Capital Management Inc. ADV’s holdings in ARK Innovation ETF were worth $2,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Moors & Cabot Inc. boosted its stake in ARK Innovation ETF by 1.3% during the 4th quarter. Moors & Cabot Inc. now owns 20,650 shares of the company’s stock valued at $1,172,000 after acquiring an additional 263 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in ARK Innovation ETF by 8.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 3,956 shares of the company’s stock valued at $225,000 after acquiring an additional 312 shares during the last quarter. D.A. Davidson & CO. boosted its stake in ARK Innovation ETF by 3.1% during the 3rd quarter. D.A. Davidson & CO. now owns 12,172 shares of the company’s stock valued at $579,000 after acquiring an additional 361 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of ARK Innovation ETF by 3.6% during the fourth quarter. Perigon Wealth Management LLC now owns 11,986 shares of the company’s stock worth $704,000 after purchasing an additional 421 shares during the period. Finally, Focus Financial Network Inc. raised its holdings in shares of ARK Innovation ETF by 3.3% during the fourth quarter. Focus Financial Network Inc. now owns 13,020 shares of the company’s stock worth $739,000 after purchasing an additional 422 shares during the period.

ARK Innovation ETF Stock Performance

Shares of NYSEARCA:ARKK opened at $49.19 on Monday. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 41.12 and a beta of 1.89. ARK Innovation ETF has a 1-year low of $36.85 and a 1-year high of $68.43. The company’s fifty day moving average is $59.00 and its two-hundred day moving average is $54.32.

ARK Innovation ETF 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.