Parallel Advisors LLC Reduces Stock Holdings in ARK Innovation ETF (NYSEARCA:ARKK)

Parallel Advisors LLC cut its holdings in ARK Innovation ETF (NYSEARCA:ARKK) by 15.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 23,261 shares of the company’s stock after selling 4,157 shares during the quarter. Parallel Advisors LLC’s holdings in ARK Innovation ETF were worth $1,022,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. lifted its stake in shares of ARK Innovation ETF by 2.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,838 shares of the company’s stock worth $987,000 after buying an additional 524 shares during the period. Beacon Pointe Advisors LLC lifted its position in ARK Innovation ETF by 46.4% during the 4th quarter. Beacon Pointe Advisors LLC now owns 9,475 shares of the company’s stock worth $496,000 after acquiring an additional 3,003 shares during the period. Gladstone Institutional Advisory LLC grew its stake in ARK Innovation ETF by 7.3% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 22,232 shares of the company’s stock valued at $1,164,000 after purchasing an additional 1,516 shares during the last quarter. Paragon Private Wealth Management LLC acquired a new position in shares of ARK Innovation ETF in the fourth quarter valued at about $246,000. Finally, D.A. Davidson & CO. raised its stake in shares of ARK Innovation ETF by 5.0% in the fourth quarter. D.A. Davidson & CO. now owns 13,236 shares of the company’s stock worth $693,000 after purchasing an additional 628 shares during the last quarter.

ARK Innovation ETF Stock Down 0.1 %

ARK Innovation ETF stock opened at $45.70 on Tuesday. The stock has a 50-day moving average price of $44.47 and a 200 day moving average price of $45.39. ARK Innovation ETF has a 52 week low of $33.76 and a 52 week high of $54.52.

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.