ARK Innovation ETF (NYSEARCA:ARKK) Sets New 52-Week High – Time to Buy?

Shares of ARK Innovation ETF (NYSEARCA:ARKK) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $63.46 and last traded at $63.55, with a volume of 1717092 shares traded. The stock had previously closed at $62.69.

ARK Innovation ETF Stock Performance

The stock has a 50-day simple moving average of $59.13 and a 200-day simple moving average of $50.75.

Institutional Investors Weigh In On ARK Innovation ETF

Several institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in shares of ARK Innovation ETF by 5,773.2% in the third quarter. International Assets Investment Management LLC now owns 1,589,348 shares of the company’s stock valued at $755,420,000 after buying an additional 1,562,287 shares during the period. Total Investment Management Inc. lifted its holdings in ARK Innovation ETF by 16.9% in the 3rd quarter. Total Investment Management Inc. now owns 1,338,632 shares of the company’s stock valued at $63,625,000 after acquiring an additional 193,251 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of ARK Innovation ETF during the 3rd quarter valued at about $6,545,000. Claro Advisors LLC grew its stake in shares of ARK Innovation ETF by 1,588.1% in the 3rd quarter. Claro Advisors LLC now owns 123,266 shares of the company’s stock worth $5,859,000 after purchasing an additional 115,964 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of ARK Innovation ETF by 1,040.4% in the 3rd quarter. SG Americas Securities LLC now owns 107,076 shares of the company’s stock worth $5,089,000 after purchasing an additional 97,687 shares during the last quarter.

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.