ARK Fintech Innovation ETF (BATS:ARKF) Stock Price Down 1.9% – Here’s What Happened

ARK Fintech Innovation ETF (BATS:ARKF) fell 1.9% during mid-day trading on Monday. The company traded as low as $45.75 and last traded at $45.97. Approximately 87,138 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 200,553 shares. The stock had previously closed at $46.88.

ARK Fintech Innovation ETF Stock Down 1.9%

The company’s fifty day moving average price is $44.18 and its 200 day moving average price is $41.80. The company has a market capitalization of $1.10 billion, a P/E ratio of 36.31 and a beta of 1.89.

Hedge Funds Weigh In On ARK Fintech Innovation ETF

A number of hedge funds have recently added to or reduced their stakes in ARKF. Clearwater Capital Advisors LLC raised its holdings in ARK Fintech Innovation ETF by 8.5% in the 1st quarter. Clearwater Capital Advisors LLC now owns 245,638 shares of the company’s stock valued at $9,337,000 after acquiring an additional 19,143 shares in the last quarter. Midwest Financial Partners Investments Inc. lifted its position in shares of ARK Fintech Innovation ETF by 0.7% during the 1st quarter. Midwest Financial Partners Investments Inc. now owns 186,264 shares of the company’s stock valued at $7,080,000 after acquiring an additional 1,333 shares during the period. Paller Financial Services Inc grew its holdings in shares of ARK Fintech Innovation ETF by 2.0% during the 2nd quarter. Paller Financial Services Inc now owns 71,486 shares of the company’s stock worth $2,821,000 after purchasing an additional 1,377 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of ARK Fintech Innovation ETF by 84.9% in the second quarter. Envestnet Asset Management Inc. now owns 64,741 shares of the company’s stock worth $2,555,000 after purchasing an additional 29,722 shares during the period. Finally, Wealthfront Advisers LLC increased its position in shares of ARK Fintech Innovation ETF by 2.1% in the first quarter. Wealthfront Advisers LLC now owns 57,154 shares of the company’s stock worth $2,172,000 after purchasing an additional 1,161 shares during the period.

About ARK Fintech Innovation ETF

The ARK Fintech Innovation ETF (ARKF) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund of stocks related to financial technology innovation. ARKF was launched on Feb 4, 2019 and is issued by ARK.