Granite Bay Wealth Management LLC Reduces Stake in ARK Innovation ETF $ARKK

Granite Bay Wealth Management LLC trimmed its stake in ARK Innovation ETF (NYSEARCA:ARKK) by 60.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,167 shares of the company’s stock after selling 6,277 shares during the quarter. Granite Bay Wealth Management LLC’s holdings in ARK Innovation ETF were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Alliance Advisory Group LLC purchased a new position in ARK Innovation ETF in the second quarter valued at about $287,000. Focus Partners Wealth boosted its stake in ARK Innovation ETF by 74.2% in the first quarter. Focus Partners Wealth now owns 7,095 shares of the company’s stock valued at $338,000 after acquiring an additional 3,023 shares during the last quarter. Integrity Alliance LLC. purchased a new position in ARK Innovation ETF in the first quarter valued at about $327,000. Arete Wealth Advisors LLC boosted its stake in ARK Innovation ETF by 10.4% in the first quarter. Arete Wealth Advisors LLC now owns 18,774 shares of the company’s stock valued at $893,000 after acquiring an additional 1,772 shares during the last quarter. Finally, Banque Transatlantique SA boosted its stake in ARK Innovation ETF by 638.2% in the first quarter. Banque Transatlantique SA now owns 1,816 shares of the company’s stock valued at $80,000 after acquiring an additional 1,570 shares during the last quarter.

ARK Innovation ETF Stock Up 0.3%

ARKK opened at $78.57 on Monday. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 50.14 and a beta of 1.64. The company’s 50-day moving average price is $75.17 and its two-hundred day moving average price is $61.77. ARK Innovation ETF has a twelve month low of $38.57 and a twelve month high of $79.19.

ARK Innovation ETF Company 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.