ARK Fintech Innovation ETF (NYSEARCA:ARKF) Reaches New 12-Month High – Here’s What Happened

ARK Fintech Innovation ETF (NYSEARCA:ARKF) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $38.82 and last traded at $38.42, with a volume of 50673 shares changing hands. The stock had previously closed at $38.23.

ARK Fintech Innovation ETF Price Performance

The company’s 50 day simple moving average is $31.73 and its 200 day simple moving average is $29.02. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 61.35 and a beta of 2.03.

Institutional Trading of ARK Fintech Innovation ETF

Several large investors have recently modified their holdings of the business. Granite Bay Wealth Management LLC grew its holdings in ARK Fintech Innovation ETF by 2,966.5% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 422,262 shares of the company’s stock worth $11,844,000 after acquiring an additional 408,492 shares in the last quarter. Jane Street Group LLC lifted its stake 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 lifted its stake in ARK Fintech Innovation ETF by 7,942.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 252,443 shares of the company’s stock valued at $7,033,000 after purchasing an additional 249,304 shares during the last quarter. Flow Traders U.S. LLC acquired a new stake in ARK Fintech Innovation ETF during the third quarter valued at approximately $7,416,000. Finally, Cetera Investment Advisers lifted its stake in ARK Fintech Innovation ETF by 833.5% during the first quarter. Cetera Investment Advisers now owns 121,722 shares of the company’s stock valued at $3,692,000 after purchasing 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.