Richmond Brothers Inc. Purchases New Holdings in ARK Innovation ETF (NYSEARCA:ARKK)

Richmond Brothers Inc. purchased a new stake in ARK Innovation ETF (NYSEARCA:ARKK) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,662 shares of the company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARKK. Kestra Investment Management LLC purchased a new position in ARK Innovation ETF in the 4th quarter worth approximately $68,000. Brown Brothers Harriman & Co. purchased a new position in ARK Innovation ETF in the 3rd quarter worth approximately $76,000. Hobbs Group Advisors LLC purchased a new position in ARK Innovation ETF in the 3rd quarter worth approximately $86,000. Mainstream Capital Management LLC purchased a new position in ARK Innovation ETF in the 4th quarter worth approximately $99,000. Finally, Bank of Jackson Hole Trust purchased a new position in ARK Innovation ETF in the 4th quarter worth approximately $114,000.

ARK Innovation ETF Price Performance

ARKK opened at $48.24 on Wednesday. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 41.12 and a beta of 1.89. The company’s 50 day simple moving average is $58.57 and its two-hundred day simple moving average is $54.38. ARK Innovation ETF has a 1-year low of $36.85 and a 1-year high of $68.43.

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.