ARK Innovation ETF (NYSEARCA:ARKK) Hits New 52-Week High – Time to Buy?

ARK Innovation ETF (NYSEARCA:ARKK) shares hit a new 52-week high during trading on Monday . The company traded as high as $63.34 and last traded at $63.34, with a volume of 80635 shares trading hands. The stock had previously closed at $62.90.

ARK Innovation ETF Trading Down 1.2 %

The business has a fifty day moving average price of $51.69 and a 200 day moving average price of $47.11.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ARKK. ORG Partners LLC acquired a new position in ARK Innovation ETF during the second quarter worth about $191,000. SteelPeak Wealth LLC grew its holdings in ARK Innovation ETF by 64.7% during the second quarter. SteelPeak Wealth LLC now owns 7,931 shares of the company’s stock worth $349,000 after acquiring an additional 3,115 shares during the period. Brown Lisle Cummings Inc. grew its holdings in ARK Innovation ETF by 31.1% during the second quarter. Brown Lisle Cummings Inc. now owns 1,272 shares of the company’s stock worth $56,000 after acquiring an additional 302 shares during the period. Mcdonald Partners LLC grew its holdings in ARK Innovation ETF by 1.9% during the second quarter. Mcdonald Partners LLC now owns 12,038 shares of the company’s stock worth $529,000 after acquiring an additional 225 shares during the period. Finally, Saxon Interests Inc. grew its holdings in ARK Innovation ETF by 8.2% during the second quarter. Saxon Interests Inc. now owns 6,101 shares of the company’s stock worth $268,000 after acquiring an additional 461 shares during the period.

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.