HighTower Advisors LLC Cuts Stock Position in ARK Innovation ETF $ARKK

HighTower Advisors LLC lessened its holdings in shares of ARK Innovation ETF (BATS:ARKK) by 3.8% during the 4th quarter, Holdings Channel reports. The firm owned 198,894 shares of the company’s stock after selling 7,823 shares during the period. HighTower Advisors LLC’s holdings in ARK Innovation ETF were worth $15,299,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ARKK. Orion Porfolio Solutions LLC grew its holdings in shares of ARK Innovation ETF by 8,291.5% in the second quarter. Orion Porfolio Solutions LLC now owns 1,609,327 shares of the company’s stock valued at $113,120,000 after purchasing an additional 1,590,149 shares in the last quarter. JPMorgan Chase & Co. boosted its position in ARK Innovation ETF by 51.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,886,920 shares of the company’s stock valued at $335,441,000 after buying an additional 1,320,420 shares during the period. Qube Research & Technologies Ltd boosted its position in ARK Innovation ETF by 634.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 885,121 shares of the company’s stock valued at $76,386,000 after buying an additional 764,653 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of ARK Innovation ETF by 620.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 650,621 shares of the company’s stock worth $50,046,000 after acquiring an additional 560,286 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of ARK Innovation ETF during the third quarter worth $39,269,000.

ARK Innovation ETF Stock Performance

Shares of BATS ARKK opened at $76.40 on Monday. The stock has a market cap of $7.23 billion, a P/E ratio of 50.14 and a beta of 1.92. ARK Innovation ETF has a 12-month low of $55.02 and a 12-month high of $92.65. The business’s fifty day simple moving average is $73.46 and its 200-day simple moving average is $76.12.

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 issued by ARK.