ARK Innovation ETF (NYSEARCA:ARKK) Sets New 12-Month High – Should You Buy?

ARK Innovation ETF (NYSEARCA:ARKK) shares hit a new 52-week high on Monday . The stock traded as high as $58.57 and last traded at $58.57, with a volume of 49810 shares trading hands. The stock had previously closed at $57.98.

ARK Innovation ETF Stock Down 0.8 %

The company’s fifty day simple moving average is $50.58 and its 200-day simple moving average is $46.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARKK. Sculati Wealth Management LLC acquired a new stake in ARK Innovation ETF in the 3rd quarter worth approximately $220,000. Hobbs Group Advisors LLC acquired a new stake in shares of ARK Innovation ETF during the third quarter worth $86,000. Barclays PLC grew its holdings in shares of ARK Innovation ETF by 100.6% during the third quarter. Barclays PLC now owns 65,166 shares of the company’s stock valued at $3,098,000 after buying an additional 32,679 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of ARK Innovation ETF in the 3rd quarter valued at $6,545,000. Finally, Stevens Capital Management LP raised its stake in ARK Innovation ETF by 152.7% in the 3rd quarter. Stevens Capital Management LP now owns 68,523 shares of the company’s stock worth $3,257,000 after acquiring an additional 41,408 shares during the last quarter.

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.