ARK Next Generation Internation ETF (NYSEARCA:ARKW) Reaches New 1-Year High – Should You Buy?

ARK Next Generation Internation ETF (NYSEARCA:ARKW)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $88.27 and last traded at $88.27, with a volume of 11462 shares traded. The stock had previously closed at $87.04.

ARK Next Generation Internation ETF Price Performance

The company has a market capitalization of $1.81 billion, a PE ratio of 64.77 and a beta of 2.04. The business’s 50 day simple moving average is $81.39 and its 200 day simple moving average is $78.81.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its stake in ARK Next Generation Internation ETF by 7.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 186,057 shares of the company’s stock worth $14,518,000 after buying an additional 12,582 shares during the period. Priebe Wealth Holdings LLC increased its holdings in ARK Next Generation Internation ETF by 0.7% in the 1st quarter. Priebe Wealth Holdings LLC now owns 154,267 shares of the company’s stock valued at $12,850,000 after purchasing an additional 1,089 shares during the last quarter. Commonwealth Equity Services LLC raised its position in ARK Next Generation Internation ETF by 6.2% in the first quarter. Commonwealth Equity Services LLC now owns 148,117 shares of the company’s stock valued at $12,338,000 after purchasing an additional 8,697 shares during the period. Prudential PLC raised its position in ARK Next Generation Internation ETF by 38.5% in the second quarter. Prudential PLC now owns 132,350 shares of the company’s stock valued at $10,339,000 after purchasing an additional 36,800 shares during the period. Finally, Gradient Investments LLC lifted its stake in ARK Next Generation Internation ETF by 55.1% during the second quarter. Gradient Investments LLC now owns 88,993 shares of the company’s stock worth $6,944,000 after purchasing an additional 31,625 shares in the last quarter.

About ARK Next Generation Internation ETF

The ARK Next Generation Internet ETF (ARKW) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund with a broad mandate to invest in companies its managers have identified as benefiting from an infrastructure shift away from hardware and software toward cloud and mobile.