Focus Financial Network Inc. Has $605,000 Stock Position in ARK Innovation ETF $ARKK

Focus Financial Network Inc. cut its position in ARK Innovation ETF (NYSEARCA:ARKK) by 16.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,600 shares of the company’s stock after selling 1,715 shares during the quarter. Focus Financial Network Inc.’s holdings in ARK Innovation ETF were worth $605,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fiduciary Alliance LLC grew its position in ARK Innovation ETF by 2.9% in the 2nd quarter. Fiduciary Alliance LLC now owns 6,459 shares of the company’s stock worth $454,000 after purchasing an additional 180 shares during the last quarter. Horizon Wealth Management LLC raised its stake in shares of ARK Innovation ETF by 3.4% in the first quarter. Horizon Wealth Management LLC now owns 7,426 shares of the company’s stock worth $353,000 after acquiring an additional 243 shares during the last quarter. Principal Securities Inc. grew its position in shares of ARK Innovation ETF by 3.9% during the 1st quarter. Principal Securities Inc. now owns 6,629 shares of the company’s stock worth $315,000 after buying an additional 250 shares during the period. Post Resch Tallon Group Inc. grew its holdings in ARK Innovation ETF by 0.8% during the first quarter. Post Resch Tallon Group Inc. now owns 32,648 shares of the company’s stock valued at $1,544,000 after purchasing an additional 251 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in ARK Innovation ETF by 1.1% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 27,224 shares of the company’s stock valued at $1,295,000 after purchasing an additional 291 shares during the period.

ARK Innovation ETF Stock Up 2.2%

Shares of ARKK stock opened at $84.96 on Friday. The company’s fifty day simple moving average is $76.17 and its 200-day simple moving average is $62.68. ARK Innovation ETF has a 12 month low of $38.57 and a 12 month high of $85.55. The firm has a market cap of $8.22 billion, a PE ratio of 50.14 and a beta of 1.64.

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.