D. E. Shaw & Co. Inc. Lowers Stake in ARK Innovation ETF (NYSEARCA:ARKK)

D. E. Shaw & Co. Inc. reduced its position in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 97.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,333 shares of the company’s stock after selling 1,420,863 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in ARK Innovation ETF were worth $2,063,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in ARK Innovation ETF in the 4th quarter valued at about $54,586,000. Strategic Financial Concepts LLC acquired a new stake in ARK Innovation ETF in the 4th quarter valued at about $514,000. Envestnet Asset Management Inc. raised its holdings in ARK Innovation ETF by 69.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 535,428 shares of the company’s stock valued at $30,396,000 after acquiring an additional 219,092 shares during the last quarter. Cresset Asset Management LLC raised its holdings in ARK Innovation ETF by 7.3% in the 4th quarter. Cresset Asset Management LLC now owns 465,030 shares of the company’s stock valued at $26,400,000 after acquiring an additional 31,595 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in ARK Innovation ETF by 19.1% in the 4th quarter. Cetera Investment Advisers now owns 383,811 shares of the company’s stock valued at $21,789,000 after acquiring an additional 61,508 shares during the last quarter.

ARK Innovation ETF Price Performance

Shares of NYSEARCA ARKK opened at $57.46 on Wednesday. ARK Innovation ETF has a 1 year low of $36.85 and a 1 year high of $68.43. The company has a 50 day simple moving average of $49.47 and a 200-day simple moving average of $55.34. The company has a market capitalization of $5.85 billion, a P/E ratio of 32.74 and a beta of 1.94.

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.