ARK Innovation ETF (NYSEARCA:ARKK) Position Reduced by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 36.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,468,120 shares of the company’s stock after selling 1,427,605 shares during the quarter. JPMorgan Chase & Co. owned about 1.67% of ARK Innovation ETF worth $140,115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Moors & Cabot Inc. lifted its stake in ARK Innovation ETF by 1.3% during the fourth quarter. Moors & Cabot Inc. now owns 20,650 shares of the company’s stock valued at $1,172,000 after purchasing an additional 263 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of ARK Innovation ETF by 8.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 3,956 shares of the company’s stock valued at $225,000 after acquiring an additional 312 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of ARK Innovation ETF by 3.1% during the 3rd quarter. D.A. Davidson & CO. now owns 12,172 shares of the company’s stock worth $579,000 after acquiring an additional 361 shares in the last quarter. Sandy Spring Bank grew its holdings in shares of ARK Innovation ETF by 19.3% in the 4th quarter. Sandy Spring Bank now owns 2,231 shares of the company’s stock worth $127,000 after acquiring an additional 361 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its position in shares of ARK Innovation ETF by 3.6% during the fourth quarter. Perigon Wealth Management LLC now owns 11,986 shares of the company’s stock worth $704,000 after purchasing an additional 421 shares during the period.

ARK Innovation ETF Stock Up 0.5 %

NYSEARCA:ARKK opened at $47.80 on Wednesday. The stock has a fifty day simple moving average of $56.96 and a 200 day simple moving average of $54.87. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 28.92 and a beta of 1.98. ARK Innovation ETF has a 1-year low of $36.85 and a 1-year high of $68.43.

ARK Innovation ETF 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.