ARK Innovation ETF (NYSEARCA:ARKK) Stake Reduced by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. cut its holdings in ARK Innovation ETF (NYSEARCA:ARKK) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,615 shares of the company’s stock after selling 2,616 shares during the quarter. Avantax Advisory Services Inc.’s holdings in ARK Innovation ETF were worth $2,249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARKK. Raymond James Financial Inc. bought a new stake in ARK Innovation ETF in the fourth quarter worth about $54,586,000. Strategic Financial Concepts LLC purchased a new position in ARK Innovation ETF in the 4th quarter worth about $514,000. Y Intercept Hong Kong Ltd purchased a new position in ARK Innovation ETF in the 3rd quarter worth about $6,545,000. Variant Private Wealth LLC purchased a new position in ARK Innovation ETF in the 4th quarter worth about $4,862,000. Finally, SteelPeak Wealth LLC purchased a new position in ARK Innovation ETF in the 4th quarter worth about $3,512,000.

ARK Innovation ETF Trading Up 4.1 %

Shares of ARKK opened at $49.19 on Monday. The business’s 50-day moving average price is $59.00 and its 200 day moving average price is $54.32. The stock has a market capitalization of $5.40 billion, a P/E 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.

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.