Smith Moore & CO. Sells 879 Shares of ARK Innovation ETF (NYSEARCA:ARKK)

Smith Moore & CO. reduced its position in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,568 shares of the company’s stock after selling 879 shares during the quarter. Smith Moore & CO.’s holdings in ARK Innovation ETF were worth $259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Apollon Wealth Management LLC raised its position in shares of ARK Innovation ETF by 52.8% during the fourth quarter. Apollon Wealth Management LLC now owns 6,705 shares of the company’s stock worth $381,000 after purchasing an additional 2,316 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in ARK Innovation ETF by 22.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 17,984 shares of the company’s stock worth $1,021,000 after buying an additional 3,239 shares during the last quarter. Caprock Group LLC acquired a new position in ARK Innovation ETF during the fourth quarter worth $293,000. Bank of Jackson Hole Trust bought a new position in shares of ARK Innovation ETF in the fourth quarter valued at $114,000. Finally, SFG Wealth Management LLC. acquired a new position in shares of ARK Innovation ETF during the fourth quarter valued at about $224,000.

ARK Innovation ETF Price Performance

NYSEARCA:ARKK opened at $41.94 on Friday. ARK Innovation ETF has a one year low of $36.85 and a one year high of $68.43. The company has a market cap of $4.38 billion, a PE ratio of 28.92 and a beta of 1.98. The firm has a 50-day moving average of $55.95 and a 200-day moving average of $54.80.

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.