New World Advisors LLC Sells 2,371 Shares of ARK Innovation ETF $ARKK

New World Advisors LLC trimmed its position in ARK Innovation ETF (NYSEARCA:ARKK) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,719 shares of the company’s stock after selling 2,371 shares during the quarter. ARK Innovation ETF makes up 0.4% of New World Advisors LLC’s portfolio, making the stock its 10th biggest position. New World Advisors LLC’s holdings in ARK Innovation ETF were worth $2,019,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ARKK. Bank of New York Mellon Corp raised its stake in shares of ARK Innovation ETF by 24.0% during the first quarter. Bank of New York Mellon Corp now owns 4,910 shares of the company’s stock worth $234,000 after buying an additional 951 shares during the last quarter. IFP Advisors Inc grew its position in shares of ARK Innovation ETF by 2.4% during the 1st quarter. IFP Advisors Inc now owns 14,192 shares of the company’s stock worth $675,000 after buying an additional 334 shares during the period. Carnegie Investment Counsel increased its stake in shares of ARK Innovation ETF by 51.5% in the 1st quarter. Carnegie Investment Counsel now owns 29,980 shares of the company’s stock valued at $1,426,000 after acquiring an additional 10,185 shares during the last quarter. Gilbert & Cook Inc. raised its position in shares of ARK Innovation ETF by 34.9% in the 1st quarter. Gilbert & Cook Inc. now owns 6,394 shares of the company’s stock valued at $304,000 after acquiring an additional 1,653 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in shares of ARK Innovation ETF by 8.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 42,798 shares of the company’s stock valued at $2,036,000 after acquiring an additional 3,183 shares during the period.

ARK Innovation ETF Stock Performance

Shares of NYSEARCA ARKK opened at $73.35 on Friday. ARK Innovation ETF has a 52-week low of $38.57 and a 52-week high of $92.65. The stock has a market cap of $7.04 billion, a P/E ratio of 50.14 and a beta of 1.96. The firm has a 50 day moving average price of $84.49 and a 200 day moving average price of $74.10.

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.