PFG Investments LLC Raises Stake in ARK Next Generation Internet ETF (NYSEARCA:ARKW)

PFG Investments LLC raised its stake in shares of ARK Next Generation Internet ETF (NYSEARCA:ARKW) by 12.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,066 shares of the company’s stock after buying an additional 333 shares during the quarter. PFG Investments LLC’s holdings in ARK Next Generation Internet ETF were worth $331,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Paladin Wealth LLC bought a new position in shares of ARK Next Generation Internet ETF in the third quarter valued at approximately $51,000. Strategic Investment Solutions Inc. IL bought a new position in ARK Next Generation Internet ETF in the 2nd quarter valued at $88,000. Brown Financial Advisors purchased a new position in shares of ARK Next Generation Internet ETF during the 2nd quarter valued at $108,000. Eagle Wealth Strategies LLC bought a new position in shares of ARK Next Generation Internet ETF in the fourth quarter worth $202,000. Finally, Waldron Private Wealth LLC purchased a new stake in shares of ARK Next Generation Internet ETF in the third quarter worth $216,000.

ARK Next Generation Internet ETF Stock Performance

NYSEARCA:ARKW opened at $121.77 on Friday. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 64.77 and a beta of 2.04. The stock has a fifty day moving average of $113.12 and a 200 day moving average of $94.14. ARK Next Generation Internet ETF has a 52-week low of $64.00 and a 52-week high of $122.51.

About ARK Next Generation Internet ETF

The ARK Next Generation Internet ETF (ARKW) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund with a broad mandate to invest in companies its managers have identified as benefiting from an infrastructure shift away from hardware and software toward cloud and mobile.