Straight Path Wealth Management Lowers Stock Holdings in ARK Innovation ETF (NYSEARCA:ARKK)

Straight Path Wealth Management lessened its holdings in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,542 shares of the company’s stock after selling 460 shares during the quarter. Straight Path Wealth Management’s holdings in ARK Innovation ETF were worth $712,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ARKK. Raymond James Financial Inc. purchased a new position in ARK Innovation ETF during the fourth quarter worth about $54,586,000. Strategic Financial Concepts LLC purchased a new position in shares of ARK Innovation ETF during the 4th quarter worth about $514,000. Total Investment Management Inc. boosted its position in shares of ARK Innovation ETF by 16.9% in the third quarter. Total Investment Management Inc. now owns 1,338,632 shares of the company’s stock worth $63,625,000 after acquiring an additional 193,251 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in ARK Innovation ETF in the third quarter valued at approximately $6,545,000. Finally, Ascension Capital Advisors Inc. increased its position in ARK Innovation ETF by 32.0% during the third quarter. Ascension Capital Advisors Inc. now owns 356,194 shares of the company’s stock worth $16,930,000 after purchasing an additional 86,382 shares during the last quarter.

ARK Innovation ETF Stock Up 2.9 %

Shares of ARKK opened at $54.70 on Thursday. ARK Innovation ETF has a fifty-two week low of $36.85 and a fifty-two week high of $68.43. The company’s fifty day moving average is $60.23 and its two-hundred day moving average is $54.04. The firm has a market cap of $5.69 billion, a PE ratio of 46.93 and a beta of 1.76.

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.