ARK Fintech Innovation ETF (NYSEARCA:ARKF) Hits New 52-Week High – Here’s What Happened

ARK Fintech Innovation ETF (NYSEARCA:ARKF)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $38.21 and last traded at $38.16, with a volume of 198685 shares traded. The stock had previously closed at $37.14.

ARK Fintech Innovation ETF Stock Performance

The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 61.35 and a beta of 2.03. The firm’s 50-day simple moving average is $30.68 and its two-hundred day simple moving average is $28.66.

Institutional Investors Weigh In On ARK Fintech Innovation ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Main Management ETF Advisors LLC raised its stake in shares of ARK Fintech Innovation ETF by 0.8% during the second quarter. Main Management ETF Advisors LLC now owns 587,390 shares of the company’s stock worth $16,365,000 after buying an additional 4,530 shares during the last quarter. Jane Street Group LLC raised its position in shares of ARK Fintech Innovation ETF by 764.0% during the 1st quarter. Jane Street Group LLC now owns 460,977 shares of the company’s stock valued at $13,981,000 after acquiring an additional 407,625 shares during the last quarter. Granite Bay Wealth Management LLC lifted its stake 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 purchasing an additional 408,492 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of 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 purchasing an additional 249,304 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of ARK Fintech Innovation ETF by 833.5% during the first quarter. Cetera Investment Advisers now owns 121,722 shares of the company’s stock worth $3,692,000 after purchasing an additional 108,683 shares during the period.

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.