ARK Next Generation Internet ETF (NYSEARCA:ARKW) Reaches New 52-Week High – Should You Buy?

ARK Next Generation Internet ETF (NYSEARCA:ARKW)’s share price reached a new 52-week high on Thursday . The company traded as high as $123.94 and last traded at $123.66, with a volume of 225463 shares changing hands. The stock had previously closed at $121.19.

ARK Next Generation Internet ETF Stock Performance

The firm has a market capitalization of $2.53 billion, a P/E ratio of 64.77 and a beta of 2.04. The stock has a 50 day moving average of $115.51 and a two-hundred day moving average of $96.91.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARKW. JPMorgan Chase & Co. boosted its holdings in ARK Next Generation Internet ETF by 16.5% during the third quarter. JPMorgan Chase & Co. now owns 21,583 shares of the company’s stock valued at $1,837,000 after acquiring an additional 3,055 shares during the period. Serenus Wealth Advisors LLC bought a new position in ARK Next Generation Internet ETF in the 4th quarter worth approximately $96,000. BNP Paribas Financial Markets lifted its holdings in shares of ARK Next Generation Internet ETF by 2.2% during the third quarter. BNP Paribas Financial Markets now owns 14,745 shares of the company’s stock worth $1,255,000 after buying an additional 314 shares during the last quarter. 17 Capital Partners LLC boosted its position in shares of ARK Next Generation Internet ETF by 31.6% in the third quarter. 17 Capital Partners LLC now owns 4,439 shares of the company’s stock valued at $378,000 after acquiring an additional 1,065 shares during the period. Finally, Nwam LLC acquired a new stake in shares of ARK Next Generation Internet ETF in the third quarter worth $349,000.

About ARK Next Generation Internet ETF

The ARK Next Generation Internet ETF (ARKW) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund with a broad mandate to invest in companies its managers have identified as benefiting from an infrastructure shift away from hardware and software toward cloud and mobile.