Gradient Investments LLC Increases Position in ARK Next Generation Internet ETF $ARKW

Gradient Investments LLC boosted its holdings in ARK Next Generation Internet ETF (NYSEARCA:ARKW) by 20.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 165,616 shares of the company’s stock after purchasing an additional 27,992 shares during the period. Gradient Investments LLC owned about 1.13% of ARK Next Generation Internet ETF worth $28,918,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ARKW. PFG Advisors boosted its stake in shares of ARK Next Generation Internet ETF by 5.7% during the 2nd quarter. PFG Advisors now owns 2,443 shares of the company’s stock valued at $361,000 after buying an additional 131 shares during the last quarter. Phoenix Wealth Advisors raised its holdings in ARK Next Generation Internet ETF by 1.3% in the first quarter. Phoenix Wealth Advisors now owns 11,081 shares of the company’s stock valued at $1,049,000 after acquiring an additional 142 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in ARK Next Generation Internet ETF by 90.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 348 shares of the company’s stock valued at $51,000 after acquiring an additional 165 shares during the last quarter. Mutual Advisors LLC grew its holdings in ARK Next Generation Internet ETF by 0.7% during the 2nd quarter. Mutual Advisors LLC now owns 26,610 shares of the company’s stock worth $4,193,000 after acquiring an additional 173 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of ARK Next Generation Internet ETF by 46.7% in the 2nd quarter. Bank of Montreal Can now owns 660 shares of the company’s stock worth $97,000 after purchasing an additional 210 shares during the last quarter.

ARK Next Generation Internet ETF Stock Performance

Shares of ARKW stock opened at $153.92 on Wednesday. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 45.71 and a beta of 1.93. ARK Next Generation Internet ETF has a one year low of $78.62 and a one year high of $183.00. The company’s 50-day simple moving average is $162.48 and its 200-day simple moving average is $157.12.

About ARK Next Generation Internet ETF

The ARK Next Generation Internet ETF (ARKW) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund with a broad mandate to invest in companies its managers have identified as benefiting from an infrastructure shift away from hardware and software toward cloud and mobile.