ARK Fintech Innovation ETF (NYSEARCA:ARKF) Sees Strong Trading Volume – Should You Buy?

Shares of ARK Fintech Innovation ETF (NYSEARCA:ARKF) saw unusually-high trading volume on Monday . Approximately 1,293,286 shares changed hands during mid-day trading, an increase of 184% from the previous session’s volume of 455,933 shares.The stock last traded at $37.09 and had previously closed at $34.91.

ARK Fintech Innovation ETF Trading Down 1.0 %

The stock has a fifty day simple moving average of $30.68 and a two-hundred day simple moving average of $28.66. The firm has a market cap of $1.36 billion, a PE ratio of 61.35 and a beta of 2.03.

Institutional Investors Weigh In On ARK Fintech Innovation ETF

Several large investors have recently added to or reduced their stakes in the business. Granite Bay Wealth Management LLC raised its holdings in shares of ARK Fintech Innovation ETF by 2,966.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 422,262 shares of the company’s stock valued at $11,844,000 after acquiring an additional 408,492 shares in the last quarter. Jane Street Group LLC lifted its position in ARK Fintech Innovation ETF by 764.0% during the first quarter. Jane Street Group LLC now owns 460,977 shares of the company’s stock valued at $13,981,000 after purchasing an additional 407,625 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in ARK Fintech Innovation ETF by 7,942.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 252,443 shares of the company’s stock worth $7,033,000 after buying an additional 249,304 shares in the last quarter. Flow Traders U.S. LLC bought a new position in shares of ARK Fintech Innovation ETF in the 1st quarter worth $3,674,000. Finally, Cetera Investment Advisers increased its holdings in shares of ARK Fintech Innovation ETF by 833.5% in the 1st quarter. Cetera Investment Advisers now owns 121,722 shares of the company’s stock worth $3,692,000 after buying an additional 108,683 shares during 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.