Wealth Effects LLC Has $257,000 Position in ARK Innovation ETF (NYSEARCA:ARKK)

Wealth Effects LLC cut its stake in ARK Innovation ETF (NYSEARCA:ARKK) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,400 shares of the company’s stock after selling 400 shares during the quarter. Wealth Effects LLC’s holdings in ARK Innovation ETF were worth $257,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in ARK Innovation ETF during the 4th quarter worth $54,586,000. Envestnet Asset Management Inc. raised its position in shares of ARK Innovation ETF by 69.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 535,428 shares of the company’s stock worth $30,396,000 after purchasing an additional 219,092 shares during the period. Cresset Asset Management LLC lifted its holdings in shares of ARK Innovation ETF by 7.3% during the 4th quarter. Cresset Asset Management LLC now owns 465,030 shares of the company’s stock valued at $26,400,000 after purchasing an additional 31,595 shares in the last quarter. Toronto Dominion Bank grew its position in shares of ARK Innovation ETF by 10,526.8% in the 4th quarter. Toronto Dominion Bank now owns 457,697 shares of the company’s stock valued at $25,983,000 after purchasing an additional 453,390 shares during the period. Finally, Cetera Investment Advisers increased its stake in ARK Innovation ETF by 19.1% during the 4th quarter. Cetera Investment Advisers now owns 383,811 shares of the company’s stock worth $21,789,000 after purchasing an additional 61,508 shares in the last quarter.

ARK Innovation ETF Stock Performance

Shares of ARKK stock opened at $69.50 on Thursday. The company has a market capitalization of $6.58 billion, a P/E ratio of 50.14 and a beta of 1.92. ARK Innovation ETF has a 52 week low of $36.85 and a 52 week high of $71.27. The company’s 50 day moving average price is $56.63 and its two-hundred day moving average price is $56.32.

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.