ARK Next Generation Internation ETF (NYSEARCA:ARKW) Sets New 1-Year High – Here’s Why

Shares of ARK Next Generation Internation ETF (NYSEARCA:ARKW) hit a new 52-week high during trading on Monday . The company traded as high as $119.00 and last traded at $119.00, with a volume of 1873 shares traded. The stock had previously closed at $118.69.

ARK Next Generation Internation ETF Stock Performance

The firm has a market capitalization of $2.37 billion, a P/E ratio of 64.77 and a beta of 2.04. The stock’s 50 day simple moving average is $95.82 and its 200 day simple moving average is $84.54.

Hedge Funds Weigh In On ARK Next Generation Internation ETF

A number of hedge funds have recently added to or reduced their stakes in ARKW. Wealth Enhancement Advisory Services LLC boosted its stake in shares of ARK Next Generation Internation ETF by 9.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,668 shares of the company’s stock valued at $286,000 after purchasing an additional 309 shares in the last quarter. Gradient Investments LLC raised its holdings in shares of ARK Next Generation Internation ETF by 55.1% during the second quarter. Gradient Investments LLC now owns 88,993 shares of the company’s stock worth $6,944,000 after purchasing an additional 31,625 shares during the last quarter. Mattson Financial Services LLC purchased a new position in shares of ARK Next Generation Internation ETF during the second quarter worth $1,294,000. Prudential PLC increased its holdings in ARK Next Generation Internation ETF by 38.5% in the second quarter. Prudential PLC now owns 132,350 shares of the company’s stock valued at $10,339,000 after buying an additional 36,800 shares in the last quarter. Finally, Verus Capital Partners LLC grew its position in shares of ARK Next Generation Internation ETF by 4.5% in the second quarter. Verus Capital Partners LLC now owns 35,392 shares of the company’s stock valued at $2,762,000 after purchasing an additional 1,535 shares during the period.

ARK Next Generation Internation ETF Company Profile

The ARK Next Generation Internet ETF (ARKW) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund with a broad mandate to invest in companies its managers have identified as benefiting from an infrastructure shift away from hardware and software toward cloud and mobile.