Covenant Asset Management LLC Acquires New Shares in ARK Innovation ETF $ARKK

Covenant Asset Management LLC acquired a new stake in ARK Innovation ETF (NYSEARCA:ARKK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,809 shares of the company’s stock, valued at approximately $268,000.

A number of other large investors have also recently added to or reduced their stakes in ARKK. Fiduciary Alliance LLC lifted its stake in ARK Innovation ETF by 2.9% during the second quarter. Fiduciary Alliance LLC now owns 6,459 shares of the company’s stock worth $454,000 after purchasing an additional 180 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in ARK Innovation ETF by 4.2% during the second quarter. AdvisorNet Financial Inc now owns 4,618 shares of the company’s stock worth $325,000 after purchasing an additional 187 shares in the last quarter. Horizon Wealth Management LLC lifted its stake in ARK Innovation ETF by 3.4% during the first quarter. Horizon Wealth Management LLC now owns 7,426 shares of the company’s stock worth $353,000 after purchasing an additional 243 shares in the last quarter. Principal Securities Inc. lifted its stake in ARK Innovation ETF by 3.9% during the first quarter. Principal Securities Inc. now owns 6,629 shares of the company’s stock worth $315,000 after purchasing an additional 250 shares in the last quarter. Finally, Post Resch Tallon Group Inc. lifted its stake in ARK Innovation ETF by 0.8% during the first quarter. Post Resch Tallon Group Inc. now owns 32,648 shares of the company’s stock worth $1,544,000 after purchasing an additional 251 shares in the last quarter.

ARK Innovation ETF Stock Up 1.8%

NYSEARCA:ARKK opened at $83.10 on Monday. The stock’s fifty day moving average is $76.99 and its two-hundred day moving average is $63.95. ARK Innovation ETF has a 52 week low of $38.57 and a 52 week high of $85.55. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 50.14 and a beta of 1.64.

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.