ARK Fintech Innovation ETF (NYSEARCA:ARKF) Sees Strong Trading Volume – Here’s Why

ARK Fintech Innovation ETF (NYSEARCA:ARKF) shares saw strong trading volume on Friday . 360,909 shares changed hands during trading, a decline of 21% from the previous session’s volume of 458,232 shares.The stock last traded at $31.71 and had previously closed at $31.16.

ARK Fintech Innovation ETF Price Performance

The stock has a 50-day moving average of $28.84 and a 200-day moving average of $28.07. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 61.35 and a beta of 2.03.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ARKF. PNC Financial Services Group Inc. lifted its position in ARK Fintech Innovation ETF by 283.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the company’s stock worth $44,000 after purchasing an additional 1,174 shares during the period. Brookstone Capital Management increased its holdings in ARK Fintech Innovation ETF by 1.0% in the 1st quarter. Brookstone Capital Management now owns 114,766 shares of the company’s stock valued at $3,481,000 after buying an additional 1,122 shares during the period. Palisade Asset Management LLC bought a new stake in shares of ARK Fintech Innovation ETF during the 1st quarter worth approximately $27,000. PFG Advisors acquired a new stake in shares of ARK Fintech Innovation ETF during the 1st quarter worth approximately $207,000. Finally, Concurrent Investment Advisors LLC increased its stake in ARK Fintech Innovation ETF by 15.9% in the first quarter. Concurrent Investment Advisors LLC now owns 25,467 shares of the company’s stock valued at $772,000 after acquiring an additional 3,503 shares during the last quarter.

ARK Fintech Innovation ETF Company Profile

The ARK Fintech Innovation ETF (ARKF) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund of stocks related to financial technology innovation. ARKF was launched on Feb 4, 2019 and is managed by ARK.