ARK Innovation ETF (NYSEARCA:ARKK) Stake Lessened by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 36.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,468,120 shares of the company’s stock after selling 1,427,605 shares during the period. JPMorgan Chase & Co.’s holdings in ARK Innovation ETF were worth $140,115,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ARKK. Murphy & Mullick Capital Management Corp acquired a new position in shares of ARK Innovation ETF in the 4th quarter valued at about $38,000. Graney & King LLC purchased a new stake in ARK Innovation ETF in the 4th quarter worth approximately $61,000. Kestra Investment Management LLC acquired a new stake in shares of ARK Innovation ETF during the 4th quarter valued at $68,000. Mainstream Capital Management LLC purchased a new position in shares of ARK Innovation ETF during the 4th quarter valued at $99,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of ARK Innovation ETF in the third quarter worth $86,000.

ARK Innovation ETF Trading Up 0.5 %

ARKK opened at $47.80 on Wednesday. The stock has a fifty day moving average price of $56.96 and a 200 day moving average price of $54.87. ARK Innovation ETF has a 1 year low of $36.85 and a 1 year high of $68.43. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 28.92 and a beta of 1.98.

ARK Innovation ETF Profile

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.