ARK Next Generation Internet ETF (NYSEARCA:ARKW) Hits New 12-Month High – What’s Next?

Shares of ARK Next Generation Internet ETF (NYSEARCA:ARKW) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $123.94 and last traded at $123.66, with a volume of 225463 shares changing hands. The stock had previously closed at $121.19.

ARK Next Generation Internet ETF Stock Up 2.4 %

The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 64.77 and a beta of 2.04. The company’s 50-day moving average is $115.51 and its 200-day moving average is $96.91.

Institutional Trading of ARK Next Generation Internet ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gradient Investments LLC raised its position in ARK Next Generation Internet ETF by 22.3% in the 4th quarter. Gradient Investments LLC now owns 144,433 shares of the company’s stock worth $15,596,000 after purchasing an additional 26,302 shares during the last quarter. Prudential PLC increased its stake in shares of ARK Next Generation Internet ETF by 16.2% in the 4th quarter. Prudential PLC now owns 109,650 shares of the company’s stock valued at $11,840,000 after buying an additional 15,300 shares during the period. Serenus Wealth Advisors LLC bought a new stake in shares of ARK Next Generation Internet ETF during the fourth quarter worth $96,000. Raymond James Financial Inc. acquired a new position in shares of ARK Next Generation Internet ETF during the fourth quarter valued at $7,263,000. Finally, Private Advisor Group LLC boosted its holdings in ARK Next Generation Internet ETF by 3.8% in the fourth quarter. Private Advisor Group LLC now owns 28,177 shares of the company’s stock valued at $3,043,000 after acquiring an additional 1,027 shares during the last quarter.

ARK Next Generation Internet ETF Company Profile

The ARK Next Generation Internet ETF (ARKW) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund with a broad mandate to invest in companies its managers have identified as benefiting from an infrastructure shift away from hardware and software toward cloud and mobile.