ARK Innovation ETF (NYSEARCA:ARKK) Sets New 52-Week High – Here’s Why

ARK Innovation ETF (NYSEARCA:ARKK)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $68.43 and last traded at $66.48, with a volume of 7398604 shares. The stock had previously closed at $67.02.

ARK Innovation ETF Stock Down 0.8 %

The stock’s 50 day moving average is $60.81 and its two-hundred day moving average is $52.71.

Hedge Funds Weigh In On ARK Innovation ETF

Large investors have recently added to or reduced their stakes in the company. Bellwether Advisors LLC bought a new position in ARK Innovation ETF in the fourth quarter worth about $29,000. Global Trust Asset Management LLC raised its holdings in ARK Innovation ETF by 550.0% in the third quarter. Global Trust Asset Management LLC now owns 650 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in ARK Innovation ETF in the fourth quarter worth about $38,000. Graney & King LLC bought a new position in ARK Innovation ETF in the fourth quarter worth about $61,000. Finally, Kestra Investment Management LLC bought a new position in ARK Innovation ETF in the fourth quarter worth about $68,000.

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.