ARK Innovation ETF (NYSEARCA:ARKK) Hits New 1-Year High – Should You Buy?

ARK Innovation ETF (NYSEARCA:ARKK) reached a new 52-week high during trading on Monday . The stock traded as high as $58.57 and last traded at $58.57, with a volume of 49810 shares. The stock had previously closed at $57.98.

ARK Innovation ETF Price Performance

The stock’s 50-day simple moving average is $50.09 and its 200 day simple moving average is $46.44.

Institutional Investors Weigh In On ARK Innovation ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Arkadios Wealth Advisors increased its holdings in shares of ARK Innovation ETF by 1.5% in the 2nd quarter. Arkadios Wealth Advisors now owns 14,929 shares of the company’s stock valued at $656,000 after acquiring an additional 221 shares during the period. Mcdonald Partners LLC increased its position in ARK Innovation ETF by 1.9% in the 2nd quarter. Mcdonald Partners LLC now owns 12,038 shares of the company’s stock valued at $529,000 after acquiring an additional 225 shares during the period. Sound Income Strategies LLC raised its stake in ARK Innovation ETF by 6.4% during the 2nd quarter. Sound Income Strategies LLC now owns 4,037 shares of the company’s stock valued at $177,000 after acquiring an additional 243 shares during the last quarter. New World Advisors LLC lifted its position in ARK Innovation ETF by 0.8% during the 2nd quarter. New World Advisors LLC now owns 35,615 shares of the company’s stock worth $1,565,000 after acquiring an additional 282 shares during the period. Finally, Clear Harbor Asset Management LLC grew its stake in shares of ARK Innovation ETF by 2.3% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 12,338 shares of the company’s stock valued at $586,000 after purchasing an additional 282 shares during the last quarter.

ARK Innovation ETF Company 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.