Parallel Advisors LLC Reduces Stock Holdings in ARK Innovation ETF (NYSEARCA:ARKK)

Parallel Advisors LLC reduced its stake in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 32.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,391 shares of the company’s stock after selling 6,844 shares during the quarter. Parallel Advisors LLC’s holdings in ARK Innovation ETF were worth $817,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in shares of ARK Innovation ETF during the 4th quarter valued at about $68,000. Brown Brothers Harriman & Co. purchased a new stake in shares of ARK Innovation ETF during the 3rd quarter valued at about $76,000. Mainstream Capital Management LLC purchased a new stake in ARK Innovation ETF during the 4th quarter worth approximately $99,000. Hobbs Group Advisors LLC purchased a new stake in ARK Innovation ETF during the 3rd quarter worth approximately $86,000. Finally, Bank of Jackson Hole Trust purchased a new stake in ARK Innovation ETF during the 4th quarter worth approximately $114,000.

ARK Innovation ETF Stock Up 3.8 %

ARKK stock opened at $50.05 on Thursday. ARK Innovation ETF has a 52-week low of $36.85 and a 52-week high of $68.43. The stock’s 50 day moving average is $58.39 and its two-hundred day moving average is $54.35. The company has a market capitalization of $5.49 billion, a PE ratio of 41.12 and a beta of 1.89.

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.