ARK Innovation ETF (NYSEARCA:ARKK) Hits New 52-Week High – What’s Next?

ARK Innovation ETF (NYSEARCA:ARKK)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $63.73 and last traded at $63.72, with a volume of 6151236 shares traded. The stock had previously closed at $61.86.

ARK Innovation ETF Trading Down 1.0 %

The stock’s fifty day moving average price is $59.80 and its 200-day moving average price is $51.30.

Institutional Investors Weigh In On ARK Innovation ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Global Trust Asset Management LLC increased its holdings in ARK Innovation ETF by 550.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 650 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the period. Kestra Investment Management LLC acquired a new stake in ARK Innovation ETF in the fourth quarter valued at approximately $68,000. Brown Brothers Harriman & Co. purchased a new position in ARK Innovation ETF in the third quarter worth approximately $76,000. Hobbs Group Advisors LLC acquired a new position in ARK Innovation ETF during the 3rd quarter worth approximately $86,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of ARK Innovation ETF in the 4th quarter valued at approximately $114,000.

ARK Innovation ETF Company Profile

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.