ARK Fintech Innovation ETF (BATS:ARKF) Shares Down 3.4% – Here’s Why

ARK Fintech Innovation ETF (BATS:ARKF) shares traded down 3.4% on Thursday . The stock traded as low as $41.49 and last traded at $42.16. 155,249 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 266,441 shares. The stock had previously closed at $43.64.

ARK Fintech Innovation ETF Trading Down 3.4%

The business’s 50 day moving average price is $39.69 and its 200-day moving average price is $46.32. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 36.31 and a beta of 1.89.

Institutional Trading of ARK Fintech Innovation ETF

A number of hedge funds have recently modified their holdings of the stock. UBS Group AG lifted its stake in shares of ARK Fintech Innovation ETF by 4.6% during the 4th quarter. UBS Group AG now owns 335,261 shares of the company’s stock worth $15,968,000 after buying an additional 14,896 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of ARK Fintech Innovation ETF during the 3rd quarter worth about $17,949,000. Clearwater Capital Advisors LLC lifted its stake in shares of ARK Fintech Innovation ETF by 0.3% during the 4th quarter. Clearwater Capital Advisors LLC now owns 226,495 shares of the company’s stock worth $10,788,000 after buying an additional 632 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of ARK Fintech Innovation ETF by 31.3% during the 4th quarter. Wells Fargo & Company MN now owns 225,945 shares of the company’s stock worth $10,762,000 after buying an additional 53,844 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of ARK Fintech Innovation ETF by 70.5% during the 4th quarter. Cetera Investment Advisers now owns 196,379 shares of the company’s stock worth $9,354,000 after buying an additional 81,170 shares during the last quarter.

About ARK Fintech Innovation ETF

The ARK Fintech Innovation ETF (ARKF) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund of stocks related to financial technology innovation. ARKF was launched on Feb 4, 2019 and is issued by ARK.