Mutual Advisors LLC Sells 3,184 Shares of ARK Innovation ETF (NYSEARCA:ARKK)

On November 1, 2024, it was reported that Mutual Advisors LLC has reduced its investment in the ARK Innovation ETF (NYSEARCA:ARKK) by 8.9% during the third quarter. The firm sold 3,184 shares, bringing its total ownership down to 32,427 shares. According to the latest filing with the SEC, these shares had a combined value of approximately $1,536,000.

In addition to Mutual Advisors LLC, other hedge funds have also been adjusting their positions in the ARK Innovation ETF. PDS Planning Inc established a new investment in the ETF during the first quarter, investing about $204,000. Gilbert & Cook Inc. increased its stake by 14.1%, purchasing an additional 538 shares, raising its ownership to a total of 4,364 shares valued at $219,000. FinTrust Capital Advisors LLC also expanded its investment by 28.7%, which brought its total to 2,918 shares worth $146,000 after acquiring 650 new shares.

Another significant increase came from Advisory Services Network LLC, which boosted its stake by an impressive 433.1% in the first quarter. The firm now holds 63,977 shares valued at $3,204,000, having acquired an additional 51,977 shares. Finally, CarsonAllaria Wealth Management Ltd. raised its stake by 25.1%, now owning 5,250 shares worth $263,000 after adding 1,054 shares during the same period.

ARK Innovation ETF Stock Performance

The ARK Innovation ETF's stock price was observed to be down by 4.9% recently, opening at $45.86. The fund has a 50-day moving average of $46.07 and a 200-day moving average of $44.93. Over the past twelve months, the stock has experienced a range, with a low of $34.08 and a high of $54.52.

About ARK Innovation ETF

The ARK Innovation ETF (ARKK) is an actively managed exchange-traded fund designed to focus on investments in companies driven by disruptive innovation. Launched on October 31, 2014, the fund aims for long-term capital growth through investments in global companies that are involved in or benefit from innovative technologies.

Mutual, Advisors, Investment