ARK Innovation ETF $ARKK Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in ARK Innovation ETF (NYSEARCA:ARKK) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,652 shares of the company’s stock after selling 13,797 shares during the period. Envestnet Asset Management Inc. owned about 0.25% of ARK Innovation ETF worth $16,915,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sowell Financial Services LLC acquired a new stake in ARK Innovation ETF during the 2nd quarter worth $394,000. IFP Advisors Inc increased its position in shares of ARK Innovation ETF by 2.4% during the first quarter. IFP Advisors Inc now owns 14,192 shares of the company’s stock worth $675,000 after purchasing an additional 334 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of ARK Innovation ETF by 24.0% during the first quarter. Bank of New York Mellon Corp now owns 4,910 shares of the company’s stock worth $234,000 after purchasing an additional 951 shares in the last quarter. Integrity Alliance LLC. acquired a new position in ARK Innovation ETF during the first quarter worth approximately $327,000. Finally, Avantax Advisory Services Inc. increased its position in ARK Innovation ETF by 8.0% during the first quarter. Avantax Advisory Services Inc. now owns 42,798 shares of the company’s stock worth $2,036,000 after buying an additional 3,183 shares during the period.

ARK Innovation ETF Stock Up 1.8%

ARKK opened at $84.99 on Thursday. The business’s 50 day moving average is $84.07 and its two-hundred day moving average is $71.92. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 50.14 and a beta of 1.96. ARK Innovation ETF has a 52 week low of $38.57 and a 52 week high of $92.65.

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.