ARK Fintech Innovation ETF (NYSEARCA:ARKF) Reaches New 1-Year High – Should You Buy?

Shares of ARK Fintech Innovation ETF (NYSEARCA:ARKF) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $44.72 and last traded at $44.01, with a volume of 270949 shares changing hands. The stock had previously closed at $44.43.

ARK Fintech Innovation ETF Stock Performance

The company has a market cap of $1.59 billion, a price-to-earnings ratio of 61.35 and a beta of 2.03. The business has a 50-day simple moving average of $39.95 and a 200-day simple moving average of $34.41.

Institutional Investors Weigh In On ARK Fintech Innovation ETF

A number of hedge funds have recently bought and sold shares of ARKF. MBA Advisors LLC raised its position in shares of ARK Fintech Innovation ETF by 3.7% during the 4th quarter. MBA Advisors LLC now owns 7,013 shares of the company’s stock worth $260,000 after acquiring an additional 247 shares in the last quarter. Mariner LLC raised its position in shares of ARK Fintech Innovation ETF by 0.7% during the 4th quarter. Mariner LLC now owns 39,238 shares of the company’s stock worth $1,454,000 after acquiring an additional 254 shares in the last quarter. IFP Advisors Inc raised its position in shares of ARK Fintech Innovation ETF by 10.2% during the 4th quarter. IFP Advisors Inc now owns 3,483 shares of the company’s stock worth $129,000 after acquiring an additional 323 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of ARK Fintech Innovation ETF by 717.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 695 shares of the company’s stock worth $26,000 after acquiring an additional 610 shares in the last quarter. Finally, First Heartland Consultants Inc. raised its position in shares of ARK Fintech Innovation ETF by 7.2% during the 4th quarter. First Heartland Consultants Inc. now owns 11,545 shares of the company’s stock worth $428,000 after acquiring an additional 776 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.