ARK Innovation ETF (NYSEARCA:ARKK) Sets New 1-Year High – Should You Buy?

Shares of ARK Innovation ETF (NYSEARCA:ARKK) reached a new 52-week high on Thursday . The company traded as high as $63.73 and last traded at $63.72, with a volume of 6151236 shares changing hands. The stock had previously closed at $61.86.

ARK Innovation ETF Trading Up 2.7 %

The company’s fifty day simple moving average is $59.49 and its 200-day simple moving average is $51.11.

Institutional Investors Weigh In On ARK Innovation ETF

Several hedge funds have recently bought and sold shares of ARKK. Global Trust Asset Management LLC raised its position in shares of ARK Innovation ETF by 550.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 650 shares of the company’s stock worth $31,000 after purchasing an additional 550 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of ARK Innovation ETF during the second quarter valued at approximately $34,000. Brown Brothers Harriman & Co. purchased a new position in shares of ARK Innovation ETF in the third quarter valued at approximately $76,000. Hobbs Group Advisors LLC acquired a new stake in shares of ARK Innovation ETF in the third quarter worth approximately $86,000. Finally, Elevation Wealth Partners LLC acquired a new position in ARK Innovation ETF in the 4th quarter valued at $125,000.

ARK Innovation ETF Company Profile

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.