ARK Fintech Innovation ETF (NYSEARCA:ARKF) Hits New 12-Month High – Time to Buy?

ARK Fintech Innovation ETF (NYSEARCA:ARKF) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $38.82 and last traded at $38.42, with a volume of 50673 shares changing hands. The stock had previously closed at $38.23.

ARK Fintech Innovation ETF Stock Performance

The firm’s fifty day simple moving average is $31.73 and its 200-day simple moving average is $29.02. The stock has a market cap of $1.39 billion, a P/E ratio of 61.35 and a beta of 2.03.

Institutional Trading of ARK Fintech Innovation ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new position in ARK Fintech Innovation ETF in the 3rd quarter worth about $28,000. Capital Performance Advisors LLP purchased a new stake in ARK Fintech Innovation ETF during the 3rd quarter valued at $48,000. MBA Advisors LLC purchased a new stake in ARK Fintech Innovation ETF during the 3rd quarter valued at $202,000. Tyler Stone Wealth Management increased its stake in ARK Fintech Innovation ETF by 100.0% in the third quarter. Tyler Stone Wealth Management now owns 7,120 shares of the company’s stock worth $212,000 after purchasing an additional 3,560 shares during the period. Finally, EdgeRock Capital LLC purchased a new position in shares of ARK Fintech Innovation ETF during the second quarter valued at $215,000.

About ARK Fintech Innovation ETF

The ARK Fintech Innovation ETF (ARKF) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund of stocks related to financial technology innovation. ARKF was launched on Feb 4, 2019 and is managed by ARK.