Envestnet Portfolio Solutions Inc. Acquires 5,800 Shares of ARK Innovation ETF (NYSEARCA:ARKK)

Envestnet Portfolio Solutions Inc. lifted its holdings in ARK Innovation ETF (NYSEARCA:ARKK) by 43.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,017 shares of the company’s stock after acquiring an additional 5,800 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in ARK Innovation ETF were worth $1,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of ARK Innovation ETF in the 4th quarter valued at approximately $54,586,000. Strategic Financial Concepts LLC bought a new stake in ARK Innovation ETF in the fourth quarter worth $514,000. Y Intercept Hong Kong Ltd purchased a new position in ARK Innovation ETF during the third quarter worth $6,545,000. Variant Private Wealth LLC bought a new stake in shares of ARK Innovation ETF in the 4th quarter worth about $4,862,000. Finally, SteelPeak Wealth LLC bought a new position in ARK Innovation ETF during the 4th quarter valued at about $3,512,000.

ARK Innovation ETF Price Performance

ARK Innovation ETF stock opened at $51.50 on Friday. ARK Innovation ETF has a 1-year low of $36.85 and a 1-year high of $68.43. The company’s 50-day moving average is $58.09 and its 200 day moving average is $54.44. The firm has a market capitalization of $5.65 billion, a P/E ratio of 41.12 and a beta of 1.89.

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.