ARK Next Generation Internet ETF (NYSEARCA:ARKW) Sets New 1-Year High – What’s Next?

ARK Next Generation Internet ETF (NYSEARCA:ARKW) reached a new 52-week high on Thursday . The stock traded as high as $123.94 and last traded at $123.66, with a volume of 225463 shares traded. The stock had previously closed at $121.19.

ARK Next Generation Internet ETF Stock Performance

The stock has a market capitalization of $2.56 billion, a P/E ratio of 64.77 and a beta of 2.04. The stock has a 50-day moving average price of $115.69 and a two-hundred day moving average price of $97.10.

Institutional Investors Weigh In On ARK Next Generation Internet ETF

Several institutional investors and hedge funds have recently modified their holdings of ARKW. Mercer Global Advisors Inc. ADV raised its stake in ARK Next Generation Internet ETF by 5.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,217 shares of the company’s stock worth $887,000 after buying an additional 450 shares in the last quarter. Comerica Bank grew its holdings in shares of ARK Next Generation Internet ETF by 472.9% during the 4th quarter. Comerica Bank now owns 1,266 shares of the company’s stock worth $137,000 after acquiring an additional 1,045 shares during the period. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ARK Next Generation Internet ETF in the 4th quarter worth approximately $160,000. Two Sigma Securities LLC purchased a new position in shares of ARK Next Generation Internet ETF in the 4th quarter valued at approximately $268,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of ARK Next Generation Internet ETF by 39.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 298 shares of the company’s stock valued at $32,000 after purchasing an additional 84 shares in the last quarter.

ARK Next Generation Internet ETF Company Profile

The ARK Next Generation Internet ETF (ARKW) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund with a broad mandate to invest in companies its managers have identified as benefiting from an infrastructure shift away from hardware and software toward cloud and mobile.