Blue Trust Inc. Sells 56,375 Shares of ARK Innovation ETF (NYSEARCA:ARKK)

Blue Trust Inc. decreased its holdings in ARK Innovation ETF (NYSEARCA:ARKK) by 34.1% in the first quarter, HoldingsChannel.com reports. The fund owned 108,742 shares of the company’s stock after selling 56,375 shares during the quarter. Blue Trust Inc.’s holdings in ARK Innovation ETF were worth $5,174,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bellwether Advisors LLC bought a new position in ARK Innovation ETF during the fourth quarter valued at approximately $29,000. Murphy & Mullick Capital Management Corp bought a new position in ARK Innovation ETF during the fourth quarter valued at approximately $38,000. GoalVest Advisory LLC boosted its stake in ARK Innovation ETF by 48.4% during the first quarter. GoalVest Advisory LLC now owns 920 shares of the company’s stock valued at $44,000 after buying an additional 300 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in ARK Innovation ETF during the first quarter valued at approximately $44,000. Finally, Park Square Financial Group LLC bought a new position in ARK Innovation ETF during the fourth quarter valued at approximately $59,000.

ARK Innovation ETF Trading Up 4.5%

Shares of ARK Innovation ETF stock opened at $66.77 on Thursday. The stock has a 50 day moving average of $54.33 and a 200 day moving average of $56.04. ARK Innovation ETF has a 12 month low of $36.85 and a 12 month high of $68.43. The firm has a market cap of $6.55 billion, a PE ratio of 36.42 and a beta of 1.92.

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.