ARK Fintech Innovation ETF (NYSEARCA:ARKF) Hits New 1-Year High – Here’s Why

ARK Fintech Innovation ETF (NYSEARCA:ARKF)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $42.92 and last traded at $43.11, with a volume of 1847 shares. The stock had previously closed at $42.38.

ARK Fintech Innovation ETF Stock Performance

The firm has a market capitalization of $1.57 billion, a P/E ratio of 61.35 and a beta of 2.03. The stock has a 50 day moving average of $39.74 and a 200-day moving average of $34.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its holdings in shares of ARK Fintech Innovation ETF by 3.2% in the fourth quarter. LPL Financial LLC now owns 861,231 shares of the company’s stock worth $31,909,000 after purchasing an additional 27,036 shares during the period. Flow Traders U.S. LLC bought a new stake in ARK Fintech Innovation ETF during the third quarter valued at approximately $7,416,000. Wells Fargo & Company MN increased its stake in ARK Fintech Innovation ETF by 30.1% in the fourth quarter. Wells Fargo & Company MN now owns 102,774 shares of the company’s stock valued at $3,808,000 after acquiring an additional 23,780 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in ARK Fintech Innovation ETF in the fourth quarter worth approximately $3,378,000. Finally, Stratos Wealth Partners LTD. increased its position in ARK Fintech Innovation ETF by 190.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 69,445 shares of the company’s stock valued at $2,573,000 after purchasing an additional 45,529 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.