Intrepid Financial Planning Group LLC Cuts Stock Position in ARK Innovation ETF (NYSEARCA:ARKK)

Intrepid Financial Planning Group LLC lowered its stake in ARK Innovation ETF (NYSEARCA:ARKK) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,972 shares of the company’s stock after selling 1,858 shares during the quarter. ARK Innovation ETF makes up 0.9% of Intrepid Financial Planning Group LLC’s portfolio, making the stock its 29th biggest position. Intrepid Financial Planning Group LLC’s holdings in ARK Innovation ETF were worth $2,099,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in shares of ARK Innovation ETF in the 4th quarter worth approximately $54,586,000. Strategic Financial Concepts LLC purchased a new stake in shares of ARK Innovation ETF in the 4th quarter worth approximately $514,000. Ascension Capital Advisors Inc. grew its stake in shares of ARK Innovation ETF by 5.0% in the 4th quarter. Ascension Capital Advisors Inc. now owns 373,958 shares of the company’s stock worth $21,230,000 after buying an additional 17,764 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of ARK Innovation ETF in the 3rd quarter worth approximately $6,545,000. Finally, SG Americas Securities LLC boosted its stake in ARK Innovation ETF by 4.8% during the 4th quarter. SG Americas Securities LLC now owns 112,267 shares of the company’s stock valued at $6,373,000 after purchasing an additional 5,191 shares during the last quarter.

ARK Innovation ETF Trading Up 4.1 %

Shares of ARKK opened at $49.19 on Friday. The business’s fifty day simple moving average is $59.00 and its two-hundred day simple moving average is $54.25. ARK Innovation ETF has a 12 month low of $36.85 and a 12 month high of $68.43. The company has a market cap of $5.40 billion, a price-to-earnings 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.