Sumitomo Mitsui Trust Group Inc. Boosts Stake in ARK Innovation ETF (NYSEARCA:ARKK)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in ARK Innovation ETF (NYSEARCA:ARKK) by 10.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,800 shares of the company’s stock after buying an additional 3,000 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in ARK Innovation ETF were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARKK. Apollon Wealth Management LLC purchased a new position in ARK Innovation ETF during the third quarter worth about $209,000. Jaffetilchin Investment Partners LLC raised its stake in ARK Innovation ETF by 6.3% during the third quarter. Jaffetilchin Investment Partners LLC now owns 9,963 shares of the company’s stock worth $474,000 after purchasing an additional 590 shares during the period. Tyler Stone Wealth Management raised its stake in ARK Innovation ETF by 96.1% during the third quarter. Tyler Stone Wealth Management now owns 8,838 shares of the company’s stock worth $420,000 after purchasing an additional 4,331 shares during the period. ARK Investment Management LLC purchased a new position in ARK Innovation ETF during the third quarter worth about $1,028,000. Finally, Ascension Capital Advisors Inc. raised its stake in ARK Innovation ETF by 32.0% during the third quarter. Ascension Capital Advisors Inc. now owns 356,194 shares of the company’s stock worth $16,930,000 after purchasing an additional 86,382 shares during the period.

ARK Innovation ETF Stock Up 1.5 %

Shares of ARKK stock opened at $55.92 on Wednesday. The firm’s 50-day moving average is $48.15 and its two-hundred day moving average is $45.71. ARK Innovation ETF has a 12 month low of $36.85 and a 12 month high of $58.38.

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.