ARK Next Generation Internet ETF (NYSEARCA:ARKW) Hits New 1-Year High – Still a Buy?

ARK Next Generation Internet ETF (NYSEARCA:ARKW) shares reached a new 52-week high on Thursday . The company traded as high as $133.68 and last traded at $132.38, with a volume of 238414 shares trading hands. The stock had previously closed at $131.35.

ARK Next Generation Internet ETF Trading Up 0.8%

The stock has a market cap of $1.88 billion, a PE ratio of 35.29 and a beta of 1.89. The company’s 50 day moving average is $108.19 and its 200-day moving average is $109.71.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Integrity Alliance LLC. acquired a new position in shares of ARK Next Generation Internet ETF in the 1st quarter valued at approximately $915,000. Goldman Sachs Group Inc. raised its holdings in ARK Next Generation Internet ETF by 51.0% in the first quarter. Goldman Sachs Group Inc. now owns 5,884 shares of the company’s stock valued at $557,000 after acquiring an additional 1,987 shares in the last quarter. Banque Transatlantique SA bought a new position in ARK Next Generation Internet ETF during the 1st quarter valued at $73,000. Royal Bank of Canada boosted its stake in ARK Next Generation Internet ETF by 38.8% during the 1st quarter. Royal Bank of Canada now owns 26,445 shares of the company’s stock valued at $2,503,000 after acquiring an additional 7,399 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in ARK Next Generation Internet ETF during the 1st quarter worth $675,000.

ARK Next Generation Internet ETF Company Profile

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.