Stifel Financial Corp Trims Stake in ARK Innovation ETF (NYSEARCA:ARKK)

Stifel Financial Corp cut its position in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 5.4% in the third quarter, Holdings Channel.com reports. The firm owned 64,995 shares of the company’s stock after selling 3,705 shares during the quarter. Stifel Financial Corp’s holdings in ARK Innovation ETF were worth $3,089,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new stake in ARK Innovation ETF in the second quarter worth about $26,000. Global Trust Asset Management LLC lifted its stake 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 acquiring an additional 550 shares during the last quarter. Hershey Financial Advisers LLC purchased a new position in ARK Innovation ETF during the 2nd quarter valued at $32,000. Strategic Investment Solutions Inc. IL bought a new position in ARK Innovation ETF in the 2nd quarter valued at $34,000. Finally, Family Firm Inc. purchased a new stake in ARK Innovation ETF in the second quarter worth $49,000.

ARK Innovation ETF Price Performance

Shares of ARKK opened at $62.98 on Wednesday. The firm has a fifty day moving average price of $53.57 and a 200-day moving average price of $47.87. ARK Innovation ETF has a 12-month low of $36.85 and a 12-month high of $63.44.

About ARK Innovation ETF

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.