ARK Investment Management LLC Sells 72,184 Shares of ARK Innovation ETF $ARKK

ARK Investment Management LLC reduced its holdings in ARK Innovation ETF (NYSEARCA:ARKK) by 87.0% in the second quarter, HoldingsChannel reports. The firm owned 10,748 shares of the company’s stock after selling 72,184 shares during the period. ARK Investment Management LLC’s holdings in ARK Innovation ETF were worth $755,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Pacific Sun Financial Corp bought a new stake in ARK Innovation ETF in the second quarter worth approximately $265,000. Fiduciary Family Office LLC bought a new stake in ARK Innovation ETF in the second quarter worth approximately $263,000. International Assets Investment Management LLC increased its holdings in ARK Innovation ETF by 44.5% in the second quarter. International Assets Investment Management LLC now owns 31,667 shares of the company’s stock worth $2,226,000 after purchasing an additional 9,753 shares in the last quarter. Straight Path Wealth Management increased its position in ARK Innovation ETF by 2.4% in the 2nd quarter. Straight Path Wealth Management now owns 12,496 shares of the company’s stock valued at $878,000 after buying an additional 292 shares in the last quarter. Finally, Variant Private Wealth LLC increased its position in ARK Innovation ETF by 0.5% in the 2nd quarter. Variant Private Wealth LLC now owns 81,890 shares of the company’s stock valued at $5,756,000 after buying an additional 418 shares in the last quarter.

ARK Innovation ETF Stock Performance

ARKK stock opened at $85.35 on Thursday. The company has a market capitalization of $8.12 billion, a P/E ratio of 50.14 and a beta of 1.64. ARK Innovation ETF has a 52-week low of $38.57 and a 52-week high of $92.65. The business has a 50-day simple moving average of $81.65 and a two-hundred day simple moving average of $68.58.

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.