Northwestern Mutual Wealth Management Co. Increases Stake in ARK Innovation ETF $ARKK

Northwestern Mutual Wealth Management Co. lifted its stake in shares of ARK Innovation ETF (BATS:ARKK) by 620.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 650,621 shares of the company’s stock after buying an additional 560,286 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.71% of ARK Innovation ETF worth $50,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dakota Wealth Management purchased a new position in shares of ARK Innovation ETF during the fourth quarter valued at about $2,001,000. NavPoint Financial Inc. increased its position in shares of ARK Innovation ETF by 72.6% during the fourth quarter. NavPoint Financial Inc. now owns 20,040 shares of the company’s stock valued at $1,541,000 after buying an additional 8,430 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of ARK Innovation ETF during the fourth quarter valued at about $562,000. BIP Wealth LLC increased its position in shares of ARK Innovation ETF by 243.7% during the fourth quarter. BIP Wealth LLC now owns 14,704 shares of the company’s stock valued at $1,131,000 after buying an additional 10,426 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of ARK Innovation ETF by 51.4% during the third quarter. JPMorgan Chase & Co. now owns 3,886,920 shares of the company’s stock valued at $335,441,000 after buying an additional 1,320,420 shares during the period.

ARK Innovation ETF Stock Performance

Shares of ARKK opened at $74.51 on Tuesday. The stock has a market cap of $7.05 billion, a PE ratio of 50.14 and a beta of 1.92. ARK Innovation ETF has a fifty-two week low of $55.02 and a fifty-two week high of $92.65. The firm’s 50-day simple moving average is $73.26 and its two-hundred day simple moving average is $76.48.

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 issued by ARK.