Modern Wealth Management LLC Invests $925,000 in ARK Innovation ETF (NYSEARCA:ARKK)

Modern Wealth Management LLC purchased a new stake in ARK Innovation ETF (NYSEARCA:ARKK) in the fourth quarter, HoldingsChannel reports. The firm purchased 14,741 shares of the company’s stock, valued at approximately $925,000.

Other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new position in ARK Innovation ETF in the 4th quarter valued at $68,000. Brown Brothers Harriman & Co. bought a new position in ARK Innovation ETF in the third quarter valued at about $76,000. Hobbs Group Advisors LLC acquired a new stake in ARK Innovation ETF in the third quarter worth about $86,000. Mainstream Capital Management LLC bought a new stake in ARK Innovation ETF during the 4th quarter worth about $99,000. Finally, Bank of Jackson Hole Trust acquired a new position in ARK Innovation ETF during the 4th quarter valued at about $114,000.

ARK Innovation ETF Price Performance

Shares of NYSEARCA:ARKK opened at $51.66 on Thursday. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 41.12 and a beta of 1.89. The company has a 50 day moving average of $57.85 and a 200-day moving average of $54.67. ARK Innovation ETF has a one year low of $36.85 and a one year high of $68.43.

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.