ARK Fintech Innovation ETF (NYSEARCA:ARKF) Reaches New 12-Month High – Still a Buy?

Shares of ARK Fintech Innovation ETF (NYSEARCA:ARKF) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $39.49 and last traded at $39.41, with a volume of 33971 shares traded. The stock had previously closed at $39.23.

ARK Fintech Innovation ETF Trading Up 0.5 %

The stock has a 50-day moving average price of $32.96 and a 200 day moving average price of $29.48. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 61.35 and a beta of 2.03.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ARKF. Flow Traders U.S. LLC purchased a new stake in ARK Fintech Innovation ETF during the 3rd quarter worth approximately $7,416,000. Nwam LLC acquired a new stake in shares of ARK Fintech Innovation ETF in the third quarter worth approximately $1,641,000. Darwin Wealth Management LLC purchased a new stake in shares of ARK Fintech Innovation ETF during the third quarter worth approximately $28,000. EQ LLC acquired a new position in ARK Fintech Innovation ETF in the 3rd quarter valued at $255,000. Finally, Tyler Stone Wealth Management raised its stake in ARK Fintech Innovation ETF by 100.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 7,120 shares of the company’s stock valued at $212,000 after purchasing an additional 3,560 shares during the last quarter.

About ARK Fintech Innovation ETF

The ARK Fintech Innovation ETF (ARKF) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund of stocks related to financial technology innovation. ARKF was launched on Feb 4, 2019 and is managed by ARK.