Brookstone Capital Management Trims Stock Position in ARK Innovation ETF $ARKK

Brookstone Capital Management lowered its stake in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 10.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 117,043 shares of the company’s stock after selling 13,210 shares during the period. Brookstone Capital Management’s holdings in ARK Innovation ETF were worth $8,227,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Sowell Financial Services LLC purchased a new position in shares of ARK Innovation ETF during the 2nd quarter valued at about $394,000. 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 valued at $675,000 after acquiring an additional 334 shares during the period. Bank of New York Mellon Corp grew its position in shares of ARK Innovation ETF by 24.0% during the 1st quarter. Bank of New York Mellon Corp now owns 4,910 shares of the company’s stock valued at $234,000 after acquiring an additional 951 shares during the period. Integrity Alliance LLC. acquired a new stake in shares of ARK Innovation ETF during the 1st quarter valued at about $327,000. Finally, Avantax Advisory Services Inc. grew its position in shares of ARK Innovation ETF by 8.0% during 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 Down 3.7%

NYSEARCA:ARKK opened at $85.35 on Thursday. ARK Innovation ETF has a 52 week low of $38.57 and a 52 week high of $92.65. The stock has a market capitalization of $8.12 billion, a PE ratio of 50.14 and a beta of 1.64. The stock’s 50-day moving average price is $81.65 and its 200-day moving average price is $68.58.

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.