Envestnet Asset Management Inc. Sells 33,468 Shares of ARK Innovation ETF $ARKK

Envestnet Asset Management Inc. trimmed its stake in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 13.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 207,184 shares of the company’s stock after selling 33,468 shares during the quarter. Envestnet Asset Management Inc. owned about 0.21% of ARK Innovation ETF worth $17,880,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ARKK. Orion Porfolio Solutions LLC lifted its position in ARK Innovation ETF by 8,291.5% during the second quarter. Orion Porfolio Solutions LLC now owns 1,609,327 shares of the company’s stock worth $113,120,000 after purchasing an additional 1,590,149 shares during the period. Commonwealth Equity Services LLC raised its position in shares of ARK Innovation ETF by 17.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 413,265 shares of the company’s stock valued at $35,665,000 after buying an additional 60,451 shares in the last quarter. Mission Wealth Management LP lifted its holdings in shares of ARK Innovation ETF by 3.1% during the 2nd quarter. Mission Wealth Management LP now owns 326,428 shares of the company’s stock worth $22,945,000 after acquiring an additional 9,829 shares during the period. Venture Visionary Partners LLC raised its position in ARK Innovation ETF by 0.9% during the third quarter. Venture Visionary Partners LLC now owns 287,094 shares of the company’s stock valued at $24,776,000 after purchasing an additional 2,547 shares in the last quarter. Finally, Clear Street LLC bought a new stake in ARK Innovation ETF during the second quarter worth $19,718,000.

ARK Innovation ETF Stock Performance

Shares of ARKK stock opened at $70.25 on Friday. ARK Innovation ETF has a fifty-two week low of $38.57 and a fifty-two week high of $92.65. The stock’s fifty day moving average price is $78.39 and its two-hundred day moving average price is $79.89. The company has a market cap of $6.44 billion, a PE ratio of 50.14 and a beta of 1.96.

ARK Innovation ETF Company 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.