WealthTrak Capital Management LLC Acquires New Stake in ARK Innovation ETF (NYSEARCA:ARKK)

WealthTrak Capital Management LLC bought a new position in ARK Innovation ETF (NYSEARCA:ARKK) during the fourth quarter, HoldingsChannel.com reports. The fund bought 23,627 shares of the company’s stock, valued at approximately $1,341,000. ARK Innovation ETF accounts for 1.1% of WealthTrak Capital Management LLC’s portfolio, making the stock its 24th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in ARK Innovation ETF in the 4th quarter worth about $54,586,000. Strategic Financial Concepts LLC purchased a new position in shares of ARK Innovation ETF during the fourth quarter worth approximately $514,000. Ascension Capital Advisors Inc. raised its stake in shares of ARK Innovation ETF by 5.0% during the fourth quarter. Ascension Capital Advisors Inc. now owns 373,958 shares of the company’s stock valued at $21,230,000 after acquiring an additional 17,764 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of ARK Innovation ETF in the third quarter valued at approximately $6,545,000. Finally, One Charles Private Wealth Services LLC grew its stake in ARK Innovation ETF by 6.1% in the fourth quarter. One Charles Private Wealth Services LLC now owns 122,800 shares of the company’s stock worth $6,971,000 after purchasing an additional 7,010 shares in the last quarter.

ARK Innovation ETF Stock Down 4.1 %

Shares of NYSEARCA ARKK opened at $48.70 on Friday. ARK Innovation ETF has a twelve month low of $36.85 and a twelve month high of $68.43. The firm has a market cap of $5.34 billion, a PE ratio of 41.12 and a beta of 1.89. The business has a fifty day simple moving average of $57.48 and a two-hundred day simple moving average of $54.68.

About ARK Innovation ETF

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.