ARK Innovation ETF (NYSEARCA:ARKK) Shares Sold by Straight Path Wealth Management

Straight Path Wealth Management lowered its holdings in ARK Innovation ETF (NYSEARCA:ARKK) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,542 shares of the company’s stock after selling 460 shares during the period. Straight Path Wealth Management’s holdings in ARK Innovation ETF were worth $712,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in ARK Innovation ETF in the 4th quarter valued at $68,000. Brown Brothers Harriman & Co. acquired a new stake in shares of ARK Innovation ETF in the third quarter valued at about $76,000. Hobbs Group Advisors LLC purchased a new stake in shares of ARK Innovation ETF during the 3rd quarter valued at about $86,000. Mainstream Capital Management LLC purchased a new position in ARK Innovation ETF in the 4th quarter worth approximately $99,000. Finally, Bank of Jackson Hole Trust acquired a new stake in ARK Innovation ETF in the fourth quarter valued at approximately $114,000.

ARK Innovation ETF Stock Up 2.9 %

ARKK opened at $54.70 on Thursday. The firm’s 50 day moving average is $60.23 and its 200-day moving average is $54.04. ARK Innovation ETF has a 52-week low of $36.85 and a 52-week high of $68.43. The firm has a market capitalization of $5.69 billion, a P/E ratio of 46.93 and a beta of 1.76.

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.