Commonwealth Financial Services LLC Buys New Shares in ARK Innovation ETF (NYSEARCA:ARKK)

Commonwealth Financial Services LLC bought a new stake in ARK Innovation ETF (NYSEARCA:ARKK) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 50,086 shares of the company’s stock, valued at approximately $2,843,000.

Several other institutional investors have also recently added to or reduced their stakes in ARKK. Global Trust Asset Management LLC grew its position in ARK Innovation ETF by 550.0% during the third quarter. Global Trust Asset Management LLC now owns 650 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in ARK Innovation ETF during the third quarter valued at about $76,000. Hobbs Group Advisors LLC purchased a new stake in ARK Innovation ETF during the third quarter valued at about $86,000. Spire Wealth Management grew its position in ARK Innovation ETF by 118.6% during the fourth quarter. Spire Wealth Management now owns 3,273 shares of the company’s stock valued at $186,000 after acquiring an additional 1,776 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of ARK Innovation ETF in the third quarter worth about $202,000.

ARK Innovation ETF Stock Down 1.7 %

Shares of NYSEARCA ARKK opened at $61.78 on Tuesday. ARK Innovation ETF has a 1-year low of $36.85 and a 1-year high of $64.72. The business has a 50-day moving average of $59.80 and a 200-day moving average of $51.33.

ARK Innovation ETF 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.