BluePointe Capital Management LLC Sells 3,285 Shares of ARK Innovation ETF (NYSEARCA:ARKK)

BluePointe Capital Management LLC lowered its stake in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 34.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,194 shares of the company’s stock after selling 3,285 shares during the period. BluePointe Capital Management LLC’s holdings in ARK Innovation ETF were worth $352,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ARKK. Sumitomo Mitsui Trust Group Inc. lifted its position in ARK Innovation ETF by 10.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 30,800 shares of the company’s stock worth $1,464,000 after purchasing an additional 3,000 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of ARK Innovation ETF by 1.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 84,254 shares of the company’s stock worth $4,005,000 after acquiring an additional 890 shares during the period. Banco Santander S.A. lifted its holdings in shares of ARK Innovation ETF by 3.3% during the 3rd quarter. Banco Santander S.A. now owns 22,039 shares of the company’s stock worth $1,048,000 after acquiring an additional 700 shares during the period. Nwam LLC acquired a new stake in shares of ARK Innovation ETF during the 3rd quarter valued at about $1,261,000. Finally, Great Valley Advisor Group Inc. increased its stake in ARK Innovation ETF by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 22,030 shares of the company’s stock valued at $1,047,000 after acquiring an additional 480 shares during the period.

ARK Innovation ETF Trading Up 3.8 %

ARKK stock opened at $50.05 on Thursday. The firm has a market cap of $5.49 billion, a P/E ratio of 41.12 and a beta of 1.89. ARK Innovation ETF has a 1-year low of $36.85 and a 1-year high of $68.43. The business’s 50 day moving average is $58.39 and its 200-day moving average is $54.35.

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.