PFG Advisors Cuts Stake in ARK Innovation ETF (NYSEARCA:ARKK)

PFG Advisors cut its stake in ARK Innovation ETF (NYSEARCA:ARKK) by 5.4% during the 4th quarter, HoldingsChannel reports. The firm owned 58,158 shares of the company’s stock after selling 3,345 shares during the quarter. PFG Advisors’ holdings in ARK Innovation ETF were worth $3,302,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Kestra Investment Management LLC acquired a new stake in shares of ARK Innovation ETF during the fourth quarter valued at about $68,000. Brown Brothers Harriman & Co. acquired a new stake in shares of ARK Innovation ETF during the third quarter valued at about $76,000. Hobbs Group Advisors LLC acquired a new stake in shares of ARK Innovation ETF during the third quarter valued at about $86,000. Mainstream Capital Management LLC acquired a new stake in shares of ARK Innovation ETF during the fourth quarter valued at about $99,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of ARK Innovation ETF during the fourth quarter valued at about $114,000.

ARK Innovation ETF Price Performance

Shares of ARK Innovation ETF stock opened at $49.61 on Thursday. The business has a 50-day moving average of $59.41 and a 200-day moving average of $54.21. The company has a market capitalization of $5.16 billion, a PE ratio of 46.93 and a beta of 1.76. ARK Innovation ETF has a 1-year low of $36.85 and a 1-year high of $68.43.

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.