ARK Innovation ETF (BATS:ARKK) Reaches New 1-Year High – Should You Buy?

Shares of ARK Innovation ETF (BATS:ARKK) reached a new 52-week high during trading on Monday. The company traded as high as $92.85 and last traded at $92.8540, with a volume of 2351925 shares trading hands. The stock had previously closed at $89.83.

ARK Innovation ETF Trading Up 3.3%

The stock’s fifty day moving average is $83.31 and its two-hundred day moving average is $78.52. The firm has a market cap of $8.78 billion, a P/E ratio of 50.14 and a beta of 1.92.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ARKK. GoalVest Advisory LLC raised its position in shares of ARK Innovation ETF by 21,614.6% in the 3rd quarter. GoalVest Advisory LLC now owns 32,789 shares of the company’s stock worth $2,921,000 after acquiring an additional 32,638 shares in the last quarter. Rose Capital Advisors LLC bought a new stake in shares of ARK Innovation ETF during the second quarter valued at approximately $3,228,000. Rinkey Investments purchased a new stake in ARK Innovation ETF in the second quarter worth $597,000. Worthington Financial Partners LLC purchased a new stake in ARK Innovation ETF in the fourth quarter worth $1,210,000. Finally, L1 Global Manager Pty Ltd bought a new position in ARK Innovation ETF in the fourth quarter worth $15,384,000.

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 issued by ARK.