Axxcess Wealth Management LLC Lowers Position in ARK Innovation ETF (NYSEARCA:ARKK)

Axxcess Wealth Management LLC trimmed its holdings in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,633 shares of the company’s stock after selling 5,842 shares during the quarter. Axxcess Wealth Management LLC’s holdings in ARK Innovation ETF were worth $3,272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ARKK. Apollon Wealth Management LLC bought a new position in shares of ARK Innovation ETF in the third quarter worth approximately $209,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of ARK Innovation ETF by 10.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 30,800 shares of the company’s stock worth $1,464,000 after buying an additional 3,000 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of ARK Innovation ETF by 1.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 84,254 shares of the company’s stock valued at $4,005,000 after buying an additional 890 shares in the last quarter. Banco Santander S.A. raised its position in shares of ARK Innovation ETF by 3.3% during the 3rd quarter. Banco Santander S.A. now owns 22,039 shares of the company’s stock valued at $1,048,000 after buying an additional 700 shares in the last quarter. Finally, Nwam LLC bought a new stake in shares of ARK Innovation ETF during the 3rd quarter worth $1,261,000.

ARK Innovation ETF Stock Down 3.5 %

ARKK opened at $48.24 on Wednesday. The business’s fifty day simple moving average is $58.57 and its 200 day simple moving average is $54.38. ARK Innovation ETF has a 52 week low of $36.85 and a 52 week high of $68.43. The stock has a market cap of $5.29 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.