ARK Genomic Revolution ETF (BATS:ARKG) Stock Price Up 27.6% – Still a Buy?

Shares of ARK Genomic Revolution ETF (BATS:ARKG) shot up 27.6% on Tuesday . The stock traded as high as $25.24 and last traded at $30.1250. 4,900,270 shares traded hands during mid-day trading, an increase of 80% from the average session volume of 2,729,441 shares. The stock had previously closed at $23.61.

ARK Genomic Revolution ETF Stock Performance

The firm has a 50-day moving average price of $29.97 and a 200-day moving average price of $27.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Wealth Asset Management LLC lifted its stake in ARK Genomic Revolution ETF by 70.0% in the second quarter. Private Wealth Asset Management LLC now owns 1,275 shares of the company’s stock valued at $31,000 after purchasing an additional 525 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of ARK Genomic Revolution ETF by 734.3% in the third quarter. Sunbelt Securities Inc. now owns 1,118 shares of the company’s stock valued at $31,000 after buying an additional 984 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of ARK Genomic Revolution ETF during the 2nd quarter valued at $34,000. Strategic Wealth Investment Group LLC bought a new position in shares of ARK Genomic Revolution ETF during the 2nd quarter worth $38,000. Finally, Advisory Services Network LLC purchased a new stake in ARK Genomic Revolution ETF in the 3rd quarter worth about $58,000.

About ARK Genomic Revolution ETF

The ARK Genomic Revolution ETF (ARKG) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that targets companies involved in the genomics industry. ARKG was launched on Oct 31, 2014 and is managed by ARK.