Envestnet Asset Management Inc. Cuts Stock Holdings in ARK Fintech Innovation ETF (NYSEARCA:ARKF)

Envestnet Asset Management Inc. lowered its stake in ARK Fintech Innovation ETF (NYSEARCA:ARKF) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,767 shares of the company’s stock after selling 5,060 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of ARK Fintech Innovation ETF worth $992,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ARKF. Whipplewood Advisors LLC bought a new stake in shares of ARK Fintech Innovation ETF in the fourth quarter worth about $32,000. Golden State Wealth Management LLC purchased a new position in ARK Fintech Innovation ETF during the 4th quarter valued at approximately $34,000. IFP Advisors Inc increased its stake in ARK Fintech Innovation ETF by 10.2% in the 4th quarter. IFP Advisors Inc now owns 3,483 shares of the company’s stock worth $129,000 after acquiring an additional 323 shares during the last quarter. Allworth Financial LP raised its holdings in shares of ARK Fintech Innovation ETF by 89.7% during the 4th quarter. Allworth Financial LP now owns 3,650 shares of the company’s stock worth $148,000 after acquiring an additional 1,726 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of ARK Fintech Innovation ETF during the 4th quarter valued at approximately $203,000.

ARK Fintech Innovation ETF Stock Performance

ARKF stock opened at $36.15 on Friday. The firm has a market cap of $914.60 million, a PE ratio of 26.20 and a beta of 1.89. The firm has a fifty day moving average price of $34.38 and a 200 day moving average price of $36.88. ARK Fintech Innovation ETF has a fifty-two week low of $22.85 and a fifty-two week high of $44.72.

About ARK Fintech Innovation ETF

The ARK Fintech Innovation ETF (ARKF) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund of stocks related to financial technology innovation. ARKF was launched on Feb 4, 2019 and is managed by ARK.