Kovack Advisors Inc. Reduces Stake in ARK Next Generation Internation ETF (NYSEARCA:ARKW)

Kovack Advisors Inc. decreased its holdings in shares of ARK Next Generation Internation ETF (NYSEARCA:ARKW) by 45.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 23,638 shares of the company’s stock after selling 19,863 shares during the quarter. Kovack Advisors Inc.’s holdings in ARK Next Generation Internation ETF were worth $1,969,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARKW. International Assets Investment Management LLC acquired a new stake in ARK Next Generation Internation ETF during the 4th quarter worth $309,080,000. Prudential PLC increased its position in ARK Next Generation Internation ETF by 131.7% in the 4th quarter. Prudential PLC now owns 280,250 shares of the company’s stock valued at $21,271,000 after acquiring an additional 159,300 shares during the period. Priebe Wealth Holdings LLC purchased a new stake in ARK Next Generation Internation ETF during the 4th quarter valued at approximately $11,626,000. Price Capital Management Inc. acquired a new stake in ARK Next Generation Internation ETF during the 4th quarter worth approximately $10,876,000. Finally, Raymond James & Associates lifted its holdings in shares of ARK Next Generation Internation ETF by 103.5% during the fourth quarter. Raymond James & Associates now owns 81,293 shares of the company’s stock worth $6,170,000 after purchasing an additional 41,338 shares during the period.

ARK Next Generation Internation ETF Stock Performance

ARKW traded up $0.90 during trading on Thursday, hitting $80.25. The stock had a trading volume of 106,096 shares, compared to its average volume of 235,451. ARK Next Generation Internation ETF has a twelve month low of $49.92 and a twelve month high of $85.00. The company’s 50-day moving average price is $76.91 and its 200 day moving average price is $76.55. The firm has a market capitalization of $1.64 billion, a P/E ratio of 64.77 and a beta of 2.04.

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.