ARK Fintech Innovation ETF (NYSEARCA:ARKF) Sets New 1-Year High – Here’s Why

ARK Fintech Innovation ETF (NYSEARCA:ARKF) reached a new 52-week high on Tuesday . The company traded as high as $38.21 and last traded at $38.16, with a volume of 198685 shares traded. The stock had previously closed at $37.14.

ARK Fintech Innovation ETF Price Performance

The firm has a market capitalization of $1.37 billion, a PE ratio of 61.35 and a beta of 2.03. The company has a fifty day moving average of $30.08 and a 200-day moving average of $28.46.

Hedge Funds Weigh In On ARK Fintech Innovation ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARKF. Nwam LLC acquired a new position in shares of ARK Fintech Innovation ETF during the 3rd quarter valued at about $1,641,000. Darwin Wealth Management LLC bought a new position in shares of ARK Fintech Innovation ETF in the third quarter valued at approximately $28,000. EQ LLC acquired a new stake in shares of ARK Fintech Innovation ETF in the third quarter worth $255,000. Tyler Stone Wealth Management boosted its position in shares of ARK Fintech Innovation ETF by 100.0% in the third quarter. Tyler Stone Wealth Management now owns 7,120 shares of the company’s stock valued at $212,000 after acquiring an additional 3,560 shares during the period. Finally, Beta Wealth Group Inc. increased its holdings in shares of ARK Fintech Innovation ETF by 13.7% during the 3rd quarter. Beta Wealth Group Inc. now owns 37,692 shares of the company’s stock worth $1,124,000 after purchasing an additional 4,539 shares during the period.

About ARK Fintech Innovation ETF

The ARK Fintech Innovation ETF (ARKF) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund of stocks related to financial technology innovation. ARKF was launched on Feb 4, 2019 and is managed by ARK.