ARK Innovation ETF (NYSEARCA:ARKK) Position Trimmed by Safeguard Investment Advisory Group LLC

Safeguard Investment Advisory Group LLC reduced its stake in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 21.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,141 shares of the company’s stock after selling 2,691 shares during the period. Safeguard Investment Advisory Group LLC’s holdings in ARK Innovation ETF were worth $576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of ARK Innovation ETF in the 4th quarter worth approximately $54,586,000. Strategic Financial Concepts LLC purchased a new stake in shares of ARK Innovation ETF in the fourth quarter valued at $514,000. Envestnet Asset Management Inc. increased its holdings in shares of ARK Innovation ETF by 69.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 535,428 shares of the company’s stock valued at $30,396,000 after purchasing an additional 219,092 shares during the period. Cresset Asset Management LLC lifted its position in ARK Innovation ETF by 7.3% in the 4th quarter. Cresset Asset Management LLC now owns 465,030 shares of the company’s stock worth $26,400,000 after buying an additional 31,595 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in ARK Innovation ETF by 19.1% during the fourth quarter. Cetera Investment Advisers now owns 383,811 shares of the company’s stock valued at $21,789,000 after purchasing an additional 61,508 shares during the last quarter.

ARK Innovation ETF Stock Performance

NYSEARCA:ARKK opened at $58.37 on Friday. The company has a market capitalization of $5.94 billion, a P/E ratio of 32.74 and a beta of 1.94. The stock’s 50 day moving average price is $49.11 and its 200 day moving average price is $55.14. ARK Innovation ETF has a 52 week low of $36.85 and a 52 week high of $68.43.

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.