Cornerstone Wealth Management LLC Has $881,000 Holdings in ARK Innovation ETF (NYSEARCA:ARKK)

Cornerstone Wealth Management LLC cut its holdings in ARK Innovation ETF (NYSEARCA:ARKK) by 8.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 17,597 shares of the company’s stock after selling 1,703 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in ARK Innovation ETF were worth $881,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC lifted its stake in ARK Innovation ETF by 7.6% in the fourth quarter. Advisory Services Network LLC now owns 12,000 shares of the company’s stock valued at $628,000 after buying an additional 846 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in ARK Innovation ETF by 246.5% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 25,781 shares of the company’s stock valued at $1,350,000 after buying an additional 18,340 shares during the period. Leo Wealth LLC acquired a new position in ARK Innovation ETF in the fourth quarter valued at approximately $207,000. International Assets Investment Management LLC acquired a new position in shares of ARK Innovation ETF during the fourth quarter worth approximately $93,781,000. Finally, SageView Advisory Group LLC raised its position in shares of ARK Innovation ETF by 6.3% during the fourth quarter. SageView Advisory Group LLC now owns 10,828 shares of the company’s stock worth $567,000 after purchasing an additional 642 shares during the period.

ARK Innovation ETF Price Performance

Shares of NYSEARCA:ARKK traded up $0.79 during trading on Thursday, reaching $45.61. 7,347,462 shares of the stock were exchanged, compared to its average volume of 12,405,846. ARK Innovation ETF has a 1-year low of $33.76 and a 1-year high of $54.52. The stock has a fifty day moving average of $44.24 and a two-hundred day moving average of $47.13.

About ARK Innovation ETF

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.