ARK Fintech Innovation ETF (NYSEARCA:ARKF) Sets New 52-Week High – Time to Buy?

ARK Fintech Innovation ETF (NYSEARCA:ARKF) shares hit a new 52-week high on Wednesday . The company traded as high as $46.60 and last traded at $46.44, with a volume of 186836 shares trading hands. The stock had previously closed at $45.24.

ARK Fintech Innovation ETF Stock Performance

The stock’s 50 day simple moving average is $39.27 and its 200 day simple moving average is $38.48. The firm has a market cap of $1.15 billion, a PE ratio of 29.29 and a beta of 1.89.

Hedge Funds Weigh In On ARK Fintech Innovation ETF

A number of large investors have recently added to or reduced their stakes in ARKF. Allworth Financial LP lifted its stake in ARK Fintech Innovation ETF by 89.7% in the fourth quarter. Allworth Financial LP now owns 3,650 shares of the company’s stock worth $148,000 after acquiring an additional 1,726 shares during the period. Truist Financial Corp lifted its position in shares of ARK Fintech Innovation ETF by 12.4% in the 4th quarter. Truist Financial Corp now owns 7,987 shares of the company’s stock worth $296,000 after purchasing an additional 881 shares during the period. IFP Advisors Inc boosted its stake in shares of ARK Fintech Innovation ETF by 10.2% during the 4th quarter. IFP Advisors Inc now owns 3,483 shares of the company’s stock valued at $129,000 after purchasing an additional 323 shares in the last quarter. EdgeRock Capital LLC boosted its stake in shares of ARK Fintech Innovation ETF by 45.4% during the 4th quarter. EdgeRock Capital LLC now owns 17,317 shares of the company’s stock valued at $642,000 after purchasing an additional 5,405 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in shares of ARK Fintech Innovation ETF during the fourth quarter valued at about $32,000.

ARK Fintech Innovation ETF Company Profile

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 managed by ARK.