Smith Anglin Financial LLC Trims Holdings in ARK Innovation ETF $ARKK

Smith Anglin Financial LLC trimmed its stake in ARK Innovation ETF (NYSEARCA:ARKK) by 8.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 49,499 shares of the company’s stock after selling 4,340 shares during the period. Smith Anglin Financial LLC’s holdings in ARK Innovation ETF were worth $3,479,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of ARK Innovation ETF by 57.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,890,615 shares of the company’s stock valued at $185,115,000 after acquiring an additional 1,422,495 shares during the period. Ascension Capital Advisors Inc. raised its stake in shares of ARK Innovation ETF by 0.3% in the 1st quarter. Ascension Capital Advisors Inc. now owns 375,005 shares of the company’s stock valued at $17,843,000 after acquiring an additional 1,047 shares during the period. Mission Wealth Management LP purchased a new stake in shares of ARK Innovation ETF in the 1st quarter valued at approximately $15,064,000. Ardmore Road Asset Management LP purchased a new stake in shares of ARK Innovation ETF in the 1st quarter valued at approximately $12,847,000. Finally, Goodman Advisory Group LLC purchased a new stake in shares of ARK Innovation ETF in the 1st quarter valued at approximately $11,541,000.

ARK Innovation ETF Stock Performance

ARK Innovation ETF stock opened at $83.10 on Monday. The company’s 50 day simple moving average is $76.99 and its 200-day simple moving average is $63.95. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 50.14 and a beta of 1.64. ARK Innovation ETF has a 1 year low of $38.57 and a 1 year high of $85.55.

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.