Stock Traders Buy High Volume of Put Options on ARK Innovation ETF (NYSEARCA:ARKK)

ARK Innovation ETF (NYSEARCA:ARKK) was the recipient of some unusual options trading on Monday. Traders bought 107,193 put options on the stock. This is an increase of approximately 43% compared to the average daily volume of 74,884 put options.

Hedge Funds Weigh In On ARK Innovation ETF

Several large investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of ARK Innovation ETF in the 2nd quarter valued at approximately $26,000. Choreo LLC bought a new stake in shares of ARK Innovation ETF in the 2nd quarter valued at approximately $338,000. Wealthspire Advisors LLC grew its stake in shares of ARK Innovation ETF by 26.6% in the 2nd quarter. Wealthspire Advisors LLC now owns 8,225 shares of the company’s stock valued at $361,000 after purchasing an additional 1,730 shares during the period. J.W. Cole Advisors Inc. grew its stake in shares of ARK Innovation ETF by 7.4% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 20,512 shares of the company’s stock valued at $902,000 after purchasing an additional 1,417 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of ARK Innovation ETF in the 2nd quarter valued at approximately $246,000.

ARK Innovation ETF Trading Down 2.5 %

ARK Innovation ETF stock traded down $1.41 during trading hours on Monday, hitting $56.06. The stock had a trading volume of 8,223,786 shares, compared to its average volume of 9,677,889. The company has a 50-day moving average of $57.79 and a two-hundred day moving average of $49.79. ARK Innovation ETF has a fifty-two week low of $36.85 and a fifty-two week high of $63.44.

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.