Financial Advocates Investment Management Sells 702 Shares of ARK Fintech Innovation ETF (NYSEARCA:ARKF)

Financial Advocates Investment Management lowered its stake in shares of ARK Fintech Innovation ETF (NYSEARCA:ARKF) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,738 shares of the company’s stock after selling 702 shares during the quarter. Financial Advocates Investment Management owned 0.08% of ARK Fintech Innovation ETF worth $833,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Palisade Asset Management LLC purchased a new position in ARK Fintech Innovation ETF in the first quarter worth $27,000. PNC Financial Services Group Inc. boosted its position in ARK Fintech Innovation ETF by 283.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the company’s stock worth $44,000 after purchasing an additional 1,174 shares during the last quarter. MBA Advisors LLC purchased a new position in ARK Fintech Innovation ETF in the third quarter worth $202,000. PFG Advisors purchased a new position in ARK Fintech Innovation ETF in the first quarter worth $207,000. Finally, EdgeRock Capital LLC purchased a new position in ARK Fintech Innovation ETF in the second quarter worth $215,000.

ARK Fintech Innovation ETF Trading Up 0.5 %

ARKF stock opened at $31.03 on Friday. ARK Fintech Innovation ETF has a 1-year low of $19.06 and a 1-year high of $32.37. The stock’s fifty day simple moving average is $29.56 and its two-hundred day simple moving average is $28.22. The stock has a market cap of $1.12 billion, a P/E ratio of 61.35 and a beta of 2.03.

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.