ARK Fintech Innovation ETF (BATS:ARKF) Stock Price Down 1.9% – Here’s Why

ARK Fintech Innovation ETF (BATS:ARKF)’s stock price traded down 1.9% during mid-day trading on Monday. The stock traded as low as $45.75 and last traded at $45.97. Approximately 87,138 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 200,553 shares. The stock had previously closed at $46.88.

ARK Fintech Innovation ETF Stock Down 1.9%

The business has a fifty day moving average of $44.18 and a 200 day moving average of $41.80. The firm has a market cap of $1.10 billion, a P/E ratio of 36.31 and a beta of 1.89.

Hedge Funds Weigh In On ARK Fintech Innovation ETF

Several large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its holdings in ARK Fintech Innovation ETF by 215.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 40,799 shares of the company’s stock valued at $1,943,000 after acquiring an additional 27,863 shares during the period. Larry Mathis Financial Planning LLC bought a new stake in shares of ARK Fintech Innovation ETF in the fourth quarter valued at about $970,000. GoalVest Advisory LLC bought a new stake in shares of ARK Fintech Innovation ETF in the second quarter valued at about $720,000. Sanctuary Advisors LLC grew its stake in shares of ARK Fintech Innovation ETF by 206.6% in the first quarter. Sanctuary Advisors LLC now owns 27,588 shares of the company’s stock valued at $1,049,000 after acquiring an additional 18,590 shares in the last quarter. Finally, Clearwater Capital Advisors LLC grew its stake in shares of ARK Fintech Innovation ETF by 8.5% in the first quarter. Clearwater Capital Advisors LLC now owns 245,638 shares of the company’s stock valued at $9,337,000 after acquiring an additional 19,143 shares in the last quarter.

About ARK Fintech Innovation ETF

The ARK Fintech Innovation ETF (ARKF) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund of stocks related to financial technology innovation. ARKF was launched on Feb 4, 2019 and is issued by ARK.