ARK Innovation ETF (NYSEARCA:ARKK) Reaches New 52-Week High – What’s Next?

ARK Innovation ETF (NYSEARCA:ARKK)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $63.46 and last traded at $63.55, with a volume of 1717092 shares traded. The stock had previously closed at $62.69.

ARK Innovation ETF Price Performance

The stock has a 50-day moving average price of $58.95 and a two-hundred day moving average price of $50.64.

Institutional Investors Weigh In On ARK Innovation ETF

Hedge funds have recently made changes to their positions in the company. Global Trust Asset Management LLC boosted its position in shares of ARK Innovation ETF by 550.0% during the third quarter. Global Trust Asset Management LLC now owns 650 shares of the company’s stock valued at $31,000 after purchasing an additional 550 shares in the last quarter. Hershey Financial Advisers LLC bought a new stake in ARK Innovation ETF in the second quarter worth $32,000. Strategic Investment Solutions Inc. IL bought a new stake in ARK Innovation ETF in the second quarter worth $34,000. Brown Brothers Harriman & Co. bought a new stake in ARK Innovation ETF in the third quarter worth $76,000. Finally, Hobbs Group Advisors LLC bought a new stake in ARK Innovation ETF in the third quarter worth $86,000.

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.