ARK Fintech Innovation ETF (NYSEARCA:ARKF) Sets New 52-Week High – Still a Buy?

ARK Fintech Innovation ETF (NYSEARCA:ARKF)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $31.93 and last traded at $31.89, with a volume of 134090 shares changing hands. The stock had previously closed at $31.32.

ARK Fintech Innovation ETF Stock Up 1.9 %

The stock has a market capitalization of $1.16 billion, a P/E ratio of 61.35 and a beta of 2.03. The stock’s 50 day moving average price is $29.28 and its 200-day moving average price is $28.13.

Institutional Investors Weigh In On ARK Fintech Innovation ETF

Institutional investors have recently added to or reduced their stakes in the stock. Granite Bay Wealth Management LLC grew its holdings in ARK Fintech Innovation ETF by 2,966.5% in the second 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 last quarter. Jane Street Group LLC grew its stake in ARK Fintech Innovation ETF by 764.0% during the 1st quarter. Jane Street Group LLC now owns 460,977 shares of the company’s stock worth $13,981,000 after buying an additional 407,625 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in ARK Fintech Innovation ETF by 7,942.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 252,443 shares of the company’s stock valued at $7,033,000 after buying an additional 249,304 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in ARK Fintech Innovation ETF in the first quarter valued at about $3,674,000. Finally, Cetera Investment Advisers boosted its holdings 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 worth $3,692,000 after acquiring an additional 108,683 shares in the last quarter.

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.