ARK Fintech Innovation ETF (NYSEARCA:ARKF) Reaches New 1-Year High – Still a Buy?

ARK Fintech Innovation ETF (NYSEARCA:ARKF) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $31.02 and last traded at $30.96, with a volume of 67394 shares trading hands. The stock had previously closed at $30.63.

ARK Fintech Innovation ETF Stock Performance

The firm has a market cap of $1.13 billion, a P/E ratio of 61.35 and a beta of 2.03. The stock’s 50 day simple moving average is $28.48 and its 200 day simple moving average is $28.02.

Institutional Trading of ARK Fintech Innovation ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARKF. Main Management ETF Advisors LLC lifted its position in shares of ARK Fintech Innovation ETF by 0.8% during the second quarter. Main Management ETF Advisors LLC now owns 587,390 shares of the company’s stock valued at $16,365,000 after purchasing an additional 4,530 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of ARK Fintech Innovation ETF by 764.0% in the 1st quarter. Jane Street Group LLC now owns 460,977 shares of the company’s stock worth $13,981,000 after buying an additional 407,625 shares during the last quarter. Granite Bay Wealth Management LLC grew its holdings in shares of ARK Fintech Innovation ETF by 2,966.5% in the second quarter. Granite Bay Wealth Management LLC now owns 422,262 shares of the company’s stock valued at $11,844,000 after acquiring an additional 408,492 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of ARK Fintech Innovation ETF by 7,942.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 252,443 shares of the company’s stock valued at $7,033,000 after acquiring an additional 249,304 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in ARK Fintech Innovation ETF by 833.5% during the first quarter. Cetera Investment Advisers now owns 121,722 shares of the company’s stock worth $3,692,000 after acquiring an additional 108,683 shares during the period.

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.