ARK Fintech Innovation ETF (NYSEARCA:ARKF) Reaches New 12-Month High – Time to Buy?

ARK Fintech Innovation ETF (NYSEARCA:ARKF) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $44.72 and last traded at $44.01, with a volume of 270949 shares traded. The stock had previously closed at $44.43.

ARK Fintech Innovation ETF Trading Down 1.8 %

The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 61.35 and a beta of 2.03. The stock’s 50-day moving average price is $40.13 and its 200-day moving average price is $34.66.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ARKF. LPL Financial LLC increased its stake in shares of ARK Fintech Innovation ETF by 3.2% in the 4th quarter. LPL Financial LLC now owns 861,231 shares of the company’s stock valued at $31,909,000 after acquiring an additional 27,036 shares in the last quarter. GTS Securities LLC increased its stake in shares of ARK Fintech Innovation ETF by 654.1% in the 4th quarter. GTS Securities LLC now owns 261,669 shares of the company’s stock valued at $9,695,000 after acquiring an additional 226,969 shares in the last quarter. Flow Traders U.S. LLC bought a new stake in shares of ARK Fintech Innovation ETF in the 3rd quarter valued at $7,416,000. Marshall Wace LLP increased its stake in shares of ARK Fintech Innovation ETF by 303.6% in the 4th quarter. Marshall Wace LLP now owns 117,813 shares of the company’s stock valued at $4,365,000 after acquiring an additional 88,620 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of ARK Fintech Innovation ETF by 30.1% in the 4th quarter. Wells Fargo & Company MN now owns 102,774 shares of the company’s stock valued at $3,808,000 after acquiring an additional 23,780 shares in the last quarter.

ARK Fintech Innovation ETF Company Profile

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 managed by ARK.