Truist Financial Corp Has $7.74 Million Position in ARK Innovation ETF (NYSEARCA:ARKK)

Truist Financial Corp reduced its stake in ARK Innovation ETF (NYSEARCA:ARKK) by 2.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 136,283 shares of the company’s stock after selling 4,099 shares during the quarter. Truist Financial Corp owned approximately 0.09% of ARK Innovation ETF worth $7,737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARKK. Global Trust Asset Management LLC increased its position in ARK Innovation ETF by 550.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 650 shares of the company’s stock worth $31,000 after buying an additional 550 shares during the period. Brown Brothers Harriman & Co. bought a new position in ARK Innovation ETF in the 3rd quarter worth approximately $76,000. Hobbs Group Advisors LLC bought a new position in ARK Innovation ETF in the 3rd quarter worth approximately $86,000. Elevation Wealth Partners LLC bought a new position in ARK Innovation ETF in the 4th quarter worth approximately $125,000. Finally, Spire Wealth Management increased its position in ARK Innovation ETF by 118.6% in the 4th quarter. Spire Wealth Management now owns 3,273 shares of the company’s stock worth $186,000 after buying an additional 1,776 shares during the period.

ARK Innovation ETF Stock Down 5.9 %

Shares of NYSEARCA ARKK opened at $60.20 on Friday. The business’s 50 day moving average is $61.06 and its two-hundred day moving average is $53.06. ARK Innovation ETF has a 12 month low of $36.85 and a 12 month high of $68.43.

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.