Park Avenue Securities LLC Reduces Stake in ARK Innovation ETF (NYSEARCA:ARKK)

Park Avenue Securities LLC lessened its stake in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 50.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,496 shares of the company’s stock after selling 4,553 shares during the quarter. Park Avenue Securities LLC’s holdings in ARK Innovation ETF were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARKK. International Assets Investment Management LLC purchased a new position in ARK Innovation ETF during the fourth quarter valued at approximately $93,781,000. Simplex Trading LLC bought a new position in shares of ARK Innovation ETF in the fourth quarter worth $29,351,000. Morgan Stanley raised its position in shares of ARK Innovation ETF by 5.1% in the third quarter. Morgan Stanley now owns 9,524,089 shares of the company’s stock worth $377,821,000 after buying an additional 460,104 shares in the last quarter. Citigroup Inc. boosted its stake in ARK Innovation ETF by 11.3% during the third quarter. Citigroup Inc. now owns 3,227,469 shares of the company’s stock valued at $128,034,000 after buying an additional 328,088 shares during the period. Finally, Gerber LLC purchased a new position in ARK Innovation ETF during the fourth quarter worth about $11,271,000.

ARK Innovation ETF Stock Up 1.1 %

NYSEARCA:ARKK opened at $44.44 on Tuesday. The business’s 50-day moving average price is $44.19 and its two-hundred day moving average price is $47.19. ARK Innovation ETF has a twelve month low of $33.76 and a twelve month high of $54.52.

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.