ARK Innovation ETF (NYSEARCA:ARKK) Reaches New 52-Week High – Here’s What Happened

ARK Innovation ETF (NYSEARCA:ARKK) shares reached a new 52-week high on Monday . The company traded as high as $85.60 and last traded at $85.34, with a volume of 7862145 shares changing hands. The stock had previously closed at $83.10.

ARK Innovation ETF Trading Up 3.7%

The business’s 50 day moving average price is $77.18 and its two-hundred day moving average price is $64.21. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 50.14 and a beta of 1.64.

Institutional Investors Weigh In On ARK Innovation ETF

A number of hedge funds have recently made changes to their positions in ARKK. Two Sigma Investments LP acquired a new stake in shares of ARK Innovation ETF in the 4th quarter valued at approximately $573,000. Fiduciary Alliance LLC boosted its stake in shares of ARK Innovation ETF by 57.6% in the 1st quarter. Fiduciary Alliance LLC now owns 6,279 shares of the company’s stock valued at $299,000 after purchasing an additional 2,294 shares in the last quarter. NBC Securities Inc. boosted its stake in shares of ARK Innovation ETF by 540,185.7% in the 1st quarter. NBC Securities Inc. now owns 37,820 shares of the company’s stock valued at $1,799,000 after purchasing an additional 37,813 shares in the last quarter. Merit Financial Group LLC raised its holdings in ARK Innovation ETF by 20.4% in the 1st quarter. Merit Financial Group LLC now owns 38,303 shares of the company’s stock valued at $1,822,000 after buying an additional 6,496 shares during the last quarter. Finally, HBW Advisory Services LLC raised its holdings in ARK Innovation ETF by 2.2% in the 1st quarter. HBW Advisory Services LLC now owns 13,569 shares of the company’s stock valued at $646,000 after buying an additional 295 shares during the last quarter.

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.