LPL Financial LLC Has $119.35 Million Stock Position in ARK Innovation ETF (NYSEARCA:ARKK)

LPL Financial LLC lessened its holdings in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,102,316 shares of the company’s stock after selling 238,384 shares during the quarter. LPL Financial LLC owned 1.42% of ARK Innovation ETF worth $119,348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes 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. acquired a new stake in ARK Innovation ETF during the 3rd quarter worth approximately $76,000. Mainstream Capital Management LLC bought a new position in ARK Innovation ETF in the fourth quarter valued at approximately $99,000. Hobbs Group Advisors LLC acquired a new position in shares of ARK Innovation ETF in the third quarter valued at approximately $86,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of ARK Innovation ETF during the fourth quarter worth $114,000.

ARK Innovation ETF Trading Up 5.2 %

ARKK opened at $54.18 on Tuesday. The firm’s fifty day simple moving average is $58.04 and its 200 day simple moving average is $54.60. The stock has a market capitalization of $5.94 billion, a P/E ratio of 41.12 and a beta of 1.89. ARK Innovation ETF has a 12 month low of $36.85 and a 12 month high of $68.43.

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.