ARK Innovation ETF (NYSEARCA:ARKK) Stock Position Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in ARK Innovation ETF (NYSEARCA:ARKK) by 52.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,449 shares of the company’s stock after selling 280,979 shares during the period. Envestnet Asset Management Inc. owned about 0.24% of ARK Innovation ETF worth $12,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Concurrent Investment Advisors LLC lifted its position in shares of ARK Innovation ETF by 17.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 14,280 shares of the company’s stock worth $679,000 after purchasing an additional 2,172 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in ARK Innovation ETF by 24.0% during the 1st quarter. Bank of New York Mellon Corp now owns 4,910 shares of the company’s stock valued at $234,000 after purchasing an additional 951 shares during the period. SimpliFi Inc. boosted its stake in ARK Innovation ETF by 27.6% during the 1st quarter. SimpliFi Inc. now owns 7,022 shares of the company’s stock valued at $334,000 after purchasing an additional 1,521 shares during the period. Mutual Advisors LLC boosted its stake in ARK Innovation ETF by 18.3% during the 1st quarter. Mutual Advisors LLC now owns 30,776 shares of the company’s stock valued at $1,570,000 after purchasing an additional 4,764 shares during the period. Finally, Arbor Capital Management Inc. ADV raised its holdings in ARK Innovation ETF by 7.2% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 51,928 shares of the company’s stock valued at $2,500,000 after acquiring an additional 3,471 shares in the last quarter.

ARK Innovation ETF Trading Up 1.8%

Shares of ARKK opened at $77.63 on Friday. ARK Innovation ETF has a 1 year low of $36.85 and a 1 year high of $78.89. The stock has a 50 day simple moving average of $64.43 and a 200-day simple moving average of $57.73. The stock has a market cap of $7.61 billion, a PE ratio of 50.14 and a beta of 1.64.

ARK Innovation ETF Profile

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.