ARK Space Exploration & Innovation ETF (BATS:ARKX) Shares Down 8.1% – Here’s Why

ARK Space Exploration & Innovation ETF (BATS:ARKX)’s share price dropped 8.1% during trading on Monday . The stock traded as low as $19.77 and last traded at $17.90. Approximately 55,744 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 93,813 shares. The stock had previously closed at $19.48.

ARK Space Exploration & Innovation ETF Price Performance

The stock has a market cap of $257.38 million, a P/E ratio of 26.90 and a beta of 1.23. The firm’s 50-day moving average price is $18.70 and its 200-day moving average price is $18.72.

Hedge Funds Weigh In On ARK Space Exploration & Innovation ETF

A hedge fund recently raised its stake in ARK Space Exploration & Innovation ETF stock. JPMorgan Chase & Co. grew its holdings in ARK Space Exploration & Innovation ETF (BATS:ARKX) by 10.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,470 shares of the company’s stock after acquiring an additional 2,930 shares during the quarter. JPMorgan Chase & Co. owned 0.19% of ARK Space Exploration & Innovation ETF worth $595,000 at the end of the most recent reporting period.

About ARK Space Exploration & Innovation ETF

The ARK Space Exploration & Innovation ETF (ARKX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund actively selects global companies engaged in space exploration and innovation. The fund seeks long-term capital growth. ARKX was launched on Mar 30, 2021 and is managed by ARK.