Bay Colony Advisory Group Inc d b a Bay Colony Advisors Invests $261,000 in ARK Innovation ETF (NYSEARCA:ARKK)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of ARK Innovation ETF (NYSEARCA:ARKK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,591 shares of the company’s stock, valued at approximately $261,000.

Several other hedge funds have also made changes to their positions in ARKK. Kestra Investment Management LLC acquired a new stake in shares of ARK Innovation ETF during the fourth quarter worth about $68,000. Brown Brothers Harriman & Co. purchased a new stake in shares of ARK Innovation ETF during the third quarter worth approximately $76,000. Hobbs Group Advisors LLC purchased a new stake in shares of ARK Innovation ETF during the third quarter worth approximately $86,000. Mainstream Capital Management LLC purchased a new stake in shares of ARK Innovation ETF during the fourth quarter worth approximately $99,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of ARK Innovation ETF during the fourth quarter worth approximately $114,000.

ARK Innovation ETF Stock Performance

ARKK stock opened at $52.45 on Friday. The company’s 50 day moving average price is $59.92 and its 200 day moving average price is $54.14. ARK Innovation ETF has a fifty-two week low of $36.85 and a fifty-two week high of $68.43. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 46.93 and a beta of 1.76.

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.