ARK Fintech Innovation ETF (NYSEARCA:ARKF) Reaches New 12-Month High – Here’s Why

ARK Fintech Innovation ETF (NYSEARCA:ARKF)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $38.21 and last traded at $38.16, with a volume of 198685 shares. The stock had previously closed at $37.14.

ARK Fintech Innovation ETF Stock Down 1.0 %

The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 61.35 and a beta of 2.03. The stock’s fifty day moving average is $30.68 and its 200-day moving average is $28.66.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARKF. Cetera Investment Advisers lifted its stake in ARK Fintech Innovation ETF by 833.5% in the first quarter. Cetera Investment Advisers now owns 121,722 shares of the company’s stock valued at $3,692,000 after buying an additional 108,683 shares in the last quarter. CWM LLC boosted its stake in ARK Fintech Innovation ETF by 1.9% in the 2nd quarter. CWM LLC now owns 45,122 shares of the company’s stock worth $1,257,000 after purchasing an additional 845 shares during the period. EdgeRock Capital LLC increased its holdings in ARK Fintech Innovation ETF by 54.5% during the 3rd quarter. EdgeRock Capital LLC now owns 11,912 shares of the company’s stock worth $355,000 after purchasing an additional 4,204 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of ARK Fintech Innovation ETF by 7,942.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 252,443 shares of the company’s stock valued at $7,033,000 after purchasing an additional 249,304 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of ARK Fintech Innovation ETF by 764.0% in the first quarter. Jane Street Group LLC now owns 460,977 shares of the company’s stock valued at $13,981,000 after purchasing an additional 407,625 shares in the last quarter.

ARK Fintech Innovation ETF Company Profile

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.