Titleist Asset Management LLC Decreases Stake in ARK Innovation ETF (NYSEARCA:ARKK)

Titleist Asset Management LLC decreased its holdings in shares of ARK Innovation ETF (NYSEARCA:ARKK) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,826 shares of the company’s stock after selling 6,057 shares during the quarter. ARK Innovation ETF comprises about 0.8% of Titleist Asset Management LLC’s portfolio, making the stock its 23rd biggest holding. Titleist Asset Management LLC’s holdings in ARK Innovation ETF were worth $7,257,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in ARK Innovation ETF during the 4th quarter valued at about $54,586,000. Strategic Financial Concepts LLC purchased a new stake in shares of ARK Innovation ETF in the fourth quarter valued at approximately $514,000. Envestnet Asset Management Inc. increased its stake in shares of ARK Innovation ETF by 69.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 535,428 shares of the company’s stock worth $30,396,000 after acquiring an additional 219,092 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in ARK Innovation ETF during the third quarter worth about $6,545,000. Finally, National Bank of Canada FI lifted its holdings in ARK Innovation ETF by 575.8% in the fourth quarter. National Bank of Canada FI now owns 121,069 shares of the company’s stock valued at $6,873,000 after acquiring an additional 103,155 shares during the last quarter.

ARK Innovation ETF Stock Performance

Shares of ARKK stock opened at $41.94 on Friday. ARK Innovation ETF has a one year low of $36.85 and a one year high of $68.43. The firm’s 50 day moving average price is $55.95 and its 200-day moving average price is $54.80. The firm has a market cap of $4.38 billion, a P/E ratio of 28.92 and a beta of 1.98.

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.