ARK Innovation ETF Target of Unusually Large Options Trading (NYSEARCA:ARKK)

ARK Innovation ETF (NYSEARCA:ARKK) saw some unusual options trading activity on Thursday. Traders purchased 138,559 put options on the company. This represents an increase of approximately 46% compared to the typical daily volume of 95,132 put options.

ARK Innovation ETF Trading Down 5.2%

ARKK stock traded down $4.27 during trading on Thursday, reaching $77.09. The stock had a trading volume of 17,833,631 shares, compared to its average volume of 11,133,594. The firm has a fifty day moving average price of $84.72 and a 200 day moving average price of $73.10. The company has a market capitalization of $7.40 billion, a P/E ratio of 50.14 and a beta of 1.96. ARK Innovation ETF has a 1-year low of $38.57 and a 1-year high of $92.65.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ARKK. Orion Porfolio Solutions LLC increased its holdings in ARK Innovation ETF by 8,291.5% in the second quarter. Orion Porfolio Solutions LLC now owns 1,609,327 shares of the company’s stock worth $113,120,000 after buying an additional 1,590,149 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of ARK Innovation ETF by 57.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,890,615 shares of the company’s stock worth $185,115,000 after purchasing an additional 1,422,495 shares during the last quarter. Clear Street LLC bought a new position in shares of ARK Innovation ETF during the 2nd quarter valued at $19,718,000. Ardmore Road Asset Management LP acquired a new stake in shares of ARK Innovation ETF in the 1st quarter valued at $12,847,000. Finally, Allianz SE acquired a new position in ARK Innovation ETF during the second quarter worth $18,964,000.

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 managed by ARK.