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

ARK Innovation ETF (NYSEARCA:ARKK)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $64.75 and last traded at $64.56, with a volume of 6518523 shares traded. The stock had previously closed at $62.68.

ARK Innovation ETF Stock Performance

The business has a 50-day moving average price of $60.52 and a two-hundred day moving average price of $52.21.

Institutional Investors Weigh In On ARK Innovation ETF

A number of hedge funds have recently bought and sold shares of ARKK. Global Trust Asset Management LLC boosted its holdings in shares of ARK Innovation ETF by 550.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 650 shares of the company’s stock valued at $31,000 after buying an additional 550 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in ARK Innovation ETF during the 4th quarter worth $38,000. Graney & King LLC purchased a new position in shares of ARK Innovation ETF during the fourth quarter worth about $61,000. Kestra Investment Management LLC purchased a new position in shares of ARK Innovation ETF in the 4th quarter valued at approximately $68,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of ARK Innovation ETF during the third quarter worth $76,000.

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.