ARK Fintech Innovation ETF (NYSEARCA:ARKF) Sees Strong Trading Volume – Here’s Why

ARK Fintech Innovation ETF (NYSEARCA:ARKF) shares saw unusually-strong trading volume on Friday . Approximately 360,909 shares traded hands during mid-day trading, a decline of 21% from the previous session’s volume of 458,232 shares.The stock last traded at $31.71 and had previously closed at $31.16.

ARK Fintech Innovation ETF Stock Up 2.0 %

The company has a 50 day simple moving average of $28.72 and a 200 day simple moving average of $28.07. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 61.35 and a beta of 2.03.

Hedge Funds Weigh In On ARK Fintech Innovation ETF

Large investors have recently modified their holdings of the business. EdgeRock Capital LLC lifted its stake in shares of ARK Fintech Innovation ETF by 54.5% in the third quarter. EdgeRock Capital LLC now owns 11,912 shares of the company’s stock worth $355,000 after acquiring an additional 4,204 shares during the period. Granite Bay Wealth Management LLC lifted its position in shares of ARK Fintech Innovation ETF by 2,966.5% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 422,262 shares of the company’s stock worth $11,844,000 after purchasing an additional 408,492 shares during the period. Creative Planning boosted its stake in shares of ARK Fintech Innovation ETF by 2.6% in the 2nd quarter. Creative Planning now owns 23,070 shares of the company’s stock valued at $643,000 after purchasing an additional 578 shares during the last quarter. Main Management ETF Advisors LLC increased its position in shares of ARK Fintech Innovation ETF by 0.8% during the second quarter. Main Management ETF Advisors LLC now owns 587,390 shares of the company’s stock worth $16,365,000 after buying an additional 4,530 shares during the period. Finally, Bridges Investment Management Inc. increased its position in shares of ARK Fintech Innovation ETF by 12.5% during the second quarter. Bridges Investment Management Inc. now owns 19,752 shares of the company’s stock worth $550,000 after buying an additional 2,200 shares during the period.

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.