Raymond James Financial Inc. Makes New $54.59 Million Investment in ARK Innovation ETF (NYSEARCA:ARKK)

Raymond James Financial Inc. acquired a new position in ARK Innovation ETF (NYSEARCA:ARKK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 961,530 shares of the company’s stock, valued at approximately $54,586,000. Raymond James Financial Inc. owned about 0.65% of ARK Innovation ETF at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its holdings in ARK Innovation ETF by 52.8% in the fourth quarter. Apollon Wealth Management LLC now owns 6,705 shares of the company’s stock worth $381,000 after purchasing an additional 2,316 shares during the last quarter. Caprock Group LLC purchased a new position in ARK Innovation ETF in the fourth quarter worth $293,000. SFG Wealth Management LLC. purchased a new position in ARK Innovation ETF in the fourth quarter worth $224,000. Empowered Funds LLC purchased a new position in ARK Innovation ETF in the fourth quarter worth $1,149,000. Finally, Bank of Jackson Hole Trust purchased a new position in ARK Innovation ETF in the fourth quarter worth $114,000.

ARK Innovation ETF Price Performance

Shares of ARKK opened at $47.86 on Tuesday. ARK Innovation ETF has a 1-year low of $36.85 and a 1-year high of $68.43. The firm has a market capitalization of $4.98 billion, a PE ratio of 46.93 and a beta of 1.76. The company’s fifty day moving average price is $59.72 and its 200-day moving average price is $54.23.

About ARK Innovation ETF

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.