ARK Fintech Innovation ETF (BATS:ARKF) Stock Price Breaks Below 200 Day Moving Average – Here’s What Happened

ARK Fintech Innovation ETF (BATS:ARKF) shares crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $42.33 and traded as low as $41.66. ARK Fintech Innovation ETF shares last traded at $42.22, with a volume of 271,260 shares trading hands.

ARK Fintech Innovation ETF Price Performance

The stock’s fifty day moving average price is $45.91 and its 200 day moving average price is $42.33. The stock has a market capitalization of $1.01 billion, a P/E ratio of 36.31 and a beta of 1.89.

Institutional Investors Weigh In On ARK Fintech Innovation ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Foresight Capital Management Advisors Inc. purchased a new position in ARK Fintech Innovation ETF during the 3rd quarter worth $88,000. Blue Jean Financial LLC bought a new stake in ARK Fintech Innovation ETF during the 3rd quarter valued at $714,000. TD Waterhouse Canada Inc. raised its position in ARK Fintech Innovation ETF by 4.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 5,344 shares of the company’s stock valued at $244,000 after purchasing an additional 225 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in shares of ARK Fintech Innovation ETF in the 3rd quarter worth $434,000. Finally, Paller Financial Services Inc lifted its holdings in shares of ARK Fintech Innovation ETF by 2.1% in the 3rd quarter. Paller Financial Services Inc now owns 72,989 shares of the company’s stock worth $3,323,000 after buying an additional 1,503 shares during the period.

About ARK Fintech Innovation ETF

The ARK Fintech Innovation ETF (ARKF) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund of stocks related to financial technology innovation. ARKF was launched on Feb 4, 2019 and is issued by ARK.