ARK Next Generation Internet ETF (NYSEARCA:ARKW) Hits New 52-Week High – Still a Buy?

ARK Next Generation Internet ETF (NYSEARCA:ARKW) reached a new 52-week high on Thursday . The stock traded as high as $120.68 and last traded at $120.03, with a volume of 108575 shares. The stock had previously closed at $119.29.

ARK Next Generation Internet ETF Stock Up 0.6 %

The company’s fifty day moving average price is $112.84 and its two-hundred day moving average price is $93.96. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 64.77 and a beta of 2.04.

Hedge Funds Weigh In On ARK Next Generation Internet ETF

Several institutional investors have recently bought and sold shares of ARKW. Northwestern Mutual Wealth Management Co. lifted its position in shares of ARK Next Generation Internet ETF by 7.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 186,057 shares of the company’s stock worth $14,518,000 after purchasing an additional 12,582 shares in the last quarter. Gradient Investments LLC raised its position in ARK Next Generation Internet ETF by 22.3% in the 4th quarter. Gradient Investments LLC now owns 144,433 shares of the company’s stock worth $15,596,000 after purchasing an additional 26,302 shares during the last quarter. Serenus Wealth Advisors LLC acquired a new position in ARK Next Generation Internet ETF during the 4th quarter worth $96,000. JPMorgan Chase & Co. boosted its position in ARK Next Generation Internet ETF by 16.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,583 shares of the company’s stock valued at $1,837,000 after buying an additional 3,055 shares during the last quarter. Finally, Smith Anglin Financial LLC increased its stake in shares of ARK Next Generation Internet ETF by 1.2% in the 3rd quarter. Smith Anglin Financial LLC now owns 19,383 shares of the company’s stock valued at $1,650,000 after buying an additional 227 shares during the period.

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.