Envestnet Asset Management Inc. Has $4.38 Million Stake in ARK Next Generation Internet ETF (NYSEARCA:ARKW)

Envestnet Asset Management Inc. reduced its position in shares of ARK Next Generation Internet ETF (NYSEARCA:ARKW) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,542 shares of the company’s stock after selling 5,040 shares during the period. Envestnet Asset Management Inc. owned approximately 0.20% of ARK Next Generation Internet ETF worth $4,378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ARKW. Serenus Wealth Advisors LLC acquired a new stake in shares of ARK Next Generation Internet ETF during the fourth quarter worth $96,000. Raymond James Financial Inc. acquired a new stake in ARK Next Generation Internet ETF in the 4th quarter worth about $7,263,000. Gradient Investments LLC boosted its holdings in ARK Next Generation Internet ETF by 22.3% in the 4th quarter. Gradient Investments LLC now owns 144,433 shares of the company’s stock valued at $15,596,000 after purchasing an additional 26,302 shares during the period. Wells Fargo & Company MN grew its position in shares of ARK Next Generation Internet ETF by 66,933.3% during the 4th quarter. Wells Fargo & Company MN now owns 22,121 shares of the company’s stock worth $2,389,000 after purchasing an additional 22,088 shares in the last quarter. Finally, Marshall Investment Management LLC bought a new position in shares of ARK Next Generation Internet ETF during the fourth quarter worth approximately $1,768,000.

ARK Next Generation Internet ETF Trading Up 3.8 %

Shares of ARKW stock opened at $96.96 on Thursday. The stock has a market cap of $1.42 billion, a P/E ratio of 27.60 and a beta of 1.91. ARK Next Generation Internet ETF has a 1 year low of $64.00 and a 1 year high of $126.12. The stock has a 50 day simple moving average of $99.23 and a 200 day simple moving average of $104.32.

ARK Next Generation Internet ETF Profile

The ARK Next Generation Internet ETF (ARKW) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund with a broad mandate to invest in companies its managers have identified as benefiting from an infrastructure shift away from hardware and software toward cloud and mobile.