ARK Innovation ETF (NYSEARCA:ARKK) Reaches New 52-Week High – What’s Next?

Shares of ARK Innovation ETF (NYSEARCA:ARKK) reached a new 52-week high on Friday . The stock traded as high as $63.46 and last traded at $63.55, with a volume of 1717092 shares. The stock had previously closed at $62.69.

ARK Innovation ETF Stock Up 0.6 %

The company has a 50 day moving average price of $58.95 and a two-hundred day moving average price of $50.64.

Institutional Trading of ARK Innovation ETF

A number of hedge funds have recently bought and sold shares of ARKK. Global Trust Asset Management LLC increased its position in ARK Innovation ETF by 550.0% during the third quarter. Global Trust Asset Management LLC now owns 650 shares of the company’s stock valued at $31,000 after acquiring an additional 550 shares during the last quarter. Hershey Financial Advisers LLC purchased a new stake in ARK Innovation ETF in the second quarter worth about $32,000. Strategic Investment Solutions Inc. IL purchased a new stake in ARK Innovation ETF in the second quarter worth about $34,000. Brown Brothers Harriman & Co. purchased a new stake in ARK Innovation ETF in the third quarter worth about $76,000. Finally, Hobbs Group Advisors LLC purchased a new stake in ARK Innovation ETF in the third quarter worth about $86,000.

ARK Innovation ETF Company 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.