Kayne Anderson Rudnick Investment Management LLC Trims Position in ARK Innovation ETF (NYSEARCA:ARKK)

Kayne Anderson Rudnick Investment Management LLC cut its holdings in ARK Innovation ETF (NYSEARCA:ARKK) by 74.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,853 shares of the company’s stock after selling 285,649 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.07% of ARK Innovation ETF worth $4,389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ARKK. Arkadios Wealth Advisors grew its position in shares of ARK Innovation ETF by 1.5% during the second quarter. Arkadios Wealth Advisors now owns 14,929 shares of the company’s stock valued at $656,000 after purchasing an additional 221 shares in the last quarter. Mcdonald Partners LLC increased its stake in ARK Innovation ETF by 1.9% in the 2nd quarter. Mcdonald Partners LLC now owns 12,038 shares of the company’s stock worth $529,000 after acquiring an additional 225 shares during the last quarter. Fountainhead AM LLC raised its holdings in shares of ARK Innovation ETF by 5.0% during the 1st quarter. Fountainhead AM LLC now owns 4,923 shares of the company’s stock worth $247,000 after acquiring an additional 233 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of ARK Innovation ETF by 6.4% during the 2nd quarter. Sound Income Strategies LLC now owns 4,037 shares of the company’s stock valued at $177,000 after acquiring an additional 243 shares during the last quarter. Finally, TCP Asset Management LLC grew its holdings in shares of ARK Innovation ETF by 5.5% in the first quarter. TCP Asset Management LLC now owns 4,799 shares of the company’s stock valued at $240,000 after purchasing an additional 249 shares in the last quarter.

ARK Innovation ETF Stock Down 1.1 %

ARK Innovation ETF stock opened at $46.90 on Monday. ARK Innovation ETF has a 52-week low of $33.76 and a 52-week high of $54.52. The firm’s fifty day moving average is $44.51 and its 200 day moving average is $45.29.

ARK Innovation ETF Profile

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.