Sowell Financial Services LLC Acquires Shares of 21,773 ARK Innovation ETF (NYSEARCA:ARKK)

Sowell Financial Services LLC acquired a new stake in shares of ARK Innovation ETF (NYSEARCA:ARKK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,773 shares of the company’s stock, valued at approximately $1,236,000.

Other large investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in ARK Innovation ETF during the 4th quarter valued at $68,000. Brown Brothers Harriman & Co. bought a new position in ARK Innovation ETF during the 3rd quarter valued at $76,000. Mainstream Capital Management LLC bought a new position in ARK Innovation ETF during the 4th quarter valued at $99,000. Hobbs Group Advisors LLC bought a new position in ARK Innovation ETF during the 3rd quarter valued at $86,000. Finally, Bank of Jackson Hole Trust bought a new position in ARK Innovation ETF during the 4th quarter valued at $114,000.

ARK Innovation ETF Stock Performance

Shares of NYSEARCA:ARKK opened at $47.86 on Tuesday. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 46.93 and a beta of 1.76. ARK Innovation ETF has a 1-year low of $36.85 and a 1-year high of $68.43. The company’s fifty day moving average is $59.72 and its two-hundred day moving average is $54.23.

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.