Modern Wealth Management LLC Sells 2,681 Shares of ARK Innovation ETF $ARKK

Modern Wealth Management LLC reduced its position in ARK Innovation ETF (NYSEARCA:ARKK) by 17.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,381 shares of the company’s stock after selling 2,681 shares during the period. Modern Wealth Management LLC’s holdings in ARK Innovation ETF were worth $589,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of ARK Innovation ETF by 57.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,890,615 shares of the company’s stock valued at $185,115,000 after purchasing an additional 1,422,495 shares during the last quarter. Toronto Dominion Bank raised 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 last quarter. Ascension Capital Advisors Inc. raised its position in shares of ARK Innovation ETF by 0.3% in the 1st quarter. Ascension Capital Advisors Inc. now owns 375,005 shares of the company’s stock valued at $17,843,000 after purchasing an additional 1,047 shares during the last quarter. Mission Wealth Management LP purchased a new position in shares of ARK Innovation ETF in the 1st quarter valued at approximately $15,064,000. Finally, Ardmore Road Asset Management LP purchased a new position in shares of ARK Innovation ETF in the 1st quarter valued at approximately $12,847,000.

ARK Innovation ETF Stock Up 0.3%

Shares of ARK Innovation ETF stock opened at $78.57 on Monday. The firm has a market capitalization of $7.61 billion, a P/E ratio of 50.14 and a beta of 1.64. The company has a 50 day moving average price of $75.17 and a 200 day moving average price of $61.77. ARK Innovation ETF has a 52 week low of $38.57 and a 52 week high of $79.19.

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.