Milestone Asset Management Group LLC Makes New Investment in ARK Innovation ETF $ARKK

Milestone Asset Management Group LLC bought a new position in ARK Innovation ETF (NYSEARCA:ARKK) in the second quarter, Holdings Channel reports. The institutional investor bought 4,051 shares of the company’s stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased 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 worth $185,115,000 after acquiring an additional 1,422,495 shares during the last quarter. Ascension Capital Advisors Inc. increased 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 worth $17,843,000 after acquiring an additional 1,047 shares during the last quarter. Venture Visionary Partners LLC increased its stake in shares of ARK Innovation ETF by 2.6% in the 2nd quarter. Venture Visionary Partners LLC now owns 284,547 shares of the company’s stock worth $20,001,000 after acquiring an additional 7,145 shares during the last quarter. Ardmore Road Asset Management LP acquired a new stake in shares of ARK Innovation ETF in the 1st quarter worth $12,847,000. Finally, Caption Management LLC acquired a new stake in shares of ARK Innovation ETF in the 1st quarter worth $7,713,000.

ARK Innovation ETF Stock Down 1.1%

Shares of ARKK opened at $89.28 on Wednesday. ARK Innovation ETF has a 52-week low of $38.57 and a 52-week high of $92.65. The company has a market capitalization of $8.58 billion, a PE ratio of 50.14 and a beta of 1.96. The stock has a fifty day simple moving average of $82.68 and a two-hundred day simple moving average of $70.20.

ARK Innovation ETF 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.