ARK Next Generation Internet ETF (NYSEARCA:ARKW) Hits New 12-Month High – Here’s Why

ARK Next Generation Internet ETF (NYSEARCA:ARKW)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $151.52 and last traded at $151.34, with a volume of 1564 shares trading hands. The stock had previously closed at $149.33.

ARK Next Generation Internet ETF Stock Performance

The company has a market capitalization of $2.19 billion, a PE ratio of 45.71 and a beta of 1.55. The firm has a fifty day simple moving average of $131.67 and a 200 day simple moving average of $114.86.

Hedge Funds Weigh In On ARK Next Generation Internet ETF

A number of institutional investors have recently modified their holdings of ARKW. Foundations Investment Advisors LLC acquired a new stake in shares of ARK Next Generation Internet ETF in the 1st quarter worth $36,041,000. LPL Financial LLC boosted its holdings in ARK Next Generation Internet ETF by 9.7% during the 1st quarter. LPL Financial LLC now owns 271,711 shares of the company’s stock valued at $25,723,000 after acquiring an additional 24,093 shares during the period. Bank of America Corp DE raised its position in ARK Next Generation Internet ETF by 0.7% in the 4th quarter. Bank of America Corp DE now owns 253,192 shares of the company’s stock valued at $27,340,000 after purchasing an additional 1,861 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in ARK Next Generation Internet ETF by 5.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 144,482 shares of the company’s stock valued at $13,678,000 after purchasing an additional 7,380 shares in the last quarter. Finally, Gradient Investments LLC raised its position in ARK Next Generation Internet ETF by 16.2% in the 2nd quarter. Gradient Investments LLC now owns 137,624 shares of the company’s stock valued at $20,316,000 after purchasing an additional 19,200 shares in the last quarter.

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.