Commonwealth Financial Services LLC Sells 22,772 Shares of ARK Innovation ETF (NYSEARCA:ARKK)

Commonwealth Financial Services LLC reduced its stake in ARK Innovation ETF (NYSEARCA:ARKK) by 45.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,314 shares of the company’s stock after selling 22,772 shares during the period. Commonwealth Financial Services LLC’s holdings in ARK Innovation ETF were worth $1,300,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. WealthShield Partners LLC grew its stake in ARK Innovation ETF by 27.2% in the 1st quarter. WealthShield Partners LLC now owns 4,543 shares of the company’s stock worth $216,000 after acquiring an additional 972 shares in the last quarter. MGB Wealth Management LLC bought a new position in ARK Innovation ETF in the 1st quarter worth about $68,000. Atria Wealth Solutions Inc. grew its stake in ARK Innovation ETF by 64.4% in the 1st quarter. Atria Wealth Solutions Inc. now owns 98,935 shares of the company’s stock worth $4,707,000 after acquiring an additional 38,771 shares in the last quarter. Kickstand Ventures LLC. grew its stake in ARK Innovation ETF by 15.2% in the 1st quarter. Kickstand Ventures LLC. now owns 12,085 shares of the company’s stock worth $575,000 after acquiring an additional 1,594 shares in the last quarter. Finally, Blue Sky Capital Consultants Group Inc. grew its stake in ARK Innovation ETF by 3.7% in the 1st quarter. Blue Sky Capital Consultants Group Inc. now owns 84,697 shares of the company’s stock worth $4,030,000 after acquiring an additional 3,031 shares in the last quarter.

ARK Innovation ETF Price Performance

Shares of ARKK stock opened at $74.16 on Thursday. The company has a market capitalization of $7.17 billion, a P/E ratio of 50.14 and a beta of 1.64. The company’s 50-day simple moving average is $68.86 and its two-hundred day simple moving average is $59.12. ARK Innovation ETF has a one year low of $38.57 and a one year high of $79.19.

About ARK Innovation ETF

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.