Madison Investment Advisors LLC Makes New $345,000 Investment in ARK Innovation ETF (NYSEARCA:ARKK)

Madison Investment Advisors LLC bought a new stake in ARK Innovation ETF (NYSEARCA:ARKK) during the 4th quarter, Holdings Channel reports. The firm bought 6,082 shares of the company’s stock, valued at approximately $345,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of ARK Innovation ETF by 683.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 8,145 shares of the company’s stock valued at $462,000 after purchasing an additional 7,105 shares during the last quarter. Moors & Cabot Inc. grew its position in shares of ARK Innovation ETF by 1.3% in the fourth quarter. Moors & Cabot Inc. now owns 20,650 shares of the company’s stock valued at $1,172,000 after purchasing an additional 263 shares during the last quarter. Independent Advisor Alliance acquired a new position in shares of ARK Innovation ETF in the fourth quarter valued at approximately $591,000. Sowell Financial Services LLC bought a new stake in shares of ARK Innovation ETF in the fourth quarter valued at approximately $1,236,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of ARK Innovation ETF in the fourth quarter valued at approximately $261,000.

ARK Innovation ETF Trading Up 3.0 %

Shares of ARKK stock opened at $51.50 on Friday. The stock has a market cap of $5.65 billion, a P/E ratio of 41.12 and a beta of 1.89. The stock has a 50 day simple moving average of $58.09 and a 200 day simple moving average of $54.44. ARK Innovation ETF has a 1 year low of $36.85 and a 1 year high of $68.43.

ARK Innovation ETF Profile

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.