Advisory Services Network LLC Sells 10,235 Shares of ARK Innovation ETF (NYSEARCA:ARKK)

Advisory Services Network LLC lessened its position in ARK Innovation ETF (NYSEARCA:ARKK) by 15.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 57,121 shares of the company’s stock after selling 10,235 shares during the period. Advisory Services Network LLC’s holdings in ARK Innovation ETF were worth $3,243,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in ARK Innovation ETF in the 4th quarter worth about $54,586,000. Strategic Financial Concepts LLC purchased a new stake in shares of ARK Innovation ETF in the fourth quarter worth approximately $514,000. Envestnet Asset Management Inc. lifted its stake in shares of ARK Innovation ETF by 69.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 535,428 shares of the company’s stock worth $30,396,000 after acquiring an additional 219,092 shares during the last quarter. Ascension Capital Advisors Inc. boosted its holdings in ARK Innovation ETF by 5.0% during the 4th quarter. Ascension Capital Advisors Inc. now owns 373,958 shares of the company’s stock valued at $21,230,000 after acquiring an additional 17,764 shares during the period. Finally, One Charles Private Wealth Services LLC grew its position in ARK Innovation ETF by 6.1% in the 4th quarter. One Charles Private Wealth Services LLC now owns 122,800 shares of the company’s stock valued at $6,971,000 after acquiring an additional 7,010 shares during the last quarter.

ARK Innovation ETF Stock Down 5.8 %

ARKK stock opened at $44.53 on Friday. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 28.92 and a beta of 1.98. ARK Innovation ETF has a twelve month low of $36.85 and a twelve month high of $68.43. The business’s fifty day simple moving average is $53.74 and its two-hundred day simple moving average is $54.61.

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.