ARK Innovation ETF (NYSEARCA:ARKK) Position Boosted by Merit Financial Group LLC

Merit Financial Group LLC lifted its position in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 465.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 47,793 shares of the company’s stock after buying an additional 39,339 shares during the period. ARK Innovation ETF accounts for approximately 0.3% of Merit Financial Group LLC’s portfolio, making the stock its 19th largest holding. Merit Financial Group LLC’s holdings in ARK Innovation ETF were worth $2,232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its position in ARK Innovation ETF by 217.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 613,542 shares of the company’s stock worth $28,671,000 after purchasing an additional 420,164 shares during the last quarter. Raymond James & Associates increased its position in ARK Innovation ETF by 35.8% during the fourth quarter. Raymond James & Associates now owns 1,286,381 shares of the company’s stock worth $47,840,000 after purchasing an additional 338,962 shares during the last quarter. PRW Wealth Management LLC acquired a new position in ARK Innovation ETF during the fourth quarter worth approximately $5,832,000. Harvest Group Wealth Management LLC acquired a new position in ARK Innovation ETF during the first quarter worth approximately $7,127,000. Finally, Biltmore Capital Advisors LLC acquired a new position in ARK Innovation ETF during the fourth quarter worth approximately $1,155,000.

Shares of ARK Innovation ETF stock traded up $0.72 during trading hours on Monday, hitting $43.79. The company’s stock had a trading volume of 2,773 shares, compared to its average volume of 357,447. ARK Innovation ETF has a 1-year low of $34.75 and a 1-year high of $49.87.

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Further Reading: Hedge Funds Explained

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Institutional Ownership by Quarter for ARK Innovation ETF (NYSEARCA:ARKK)

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