ARK Space Exploration & Innovation ETF (BATS:ARKX) Shares Up 39.9% – Here’s Why

ARK Space Exploration & Innovation ETF (BATS:ARKX) shares shot up 39.9% during trading on Wednesday . The company traded as high as $20.1250 and last traded at $27.2580. 55,744 shares changed hands during trading, a decline of 55% from the average session volume of 122,544 shares. The stock had previously closed at $19.48.

ARK Space Exploration & Innovation ETF Stock Performance

The business has a 50-day moving average of $28.95 and a 200 day moving average of $26.75. The stock has a market cap of $377.52 million, a PE ratio of 28.18 and a beta of 1.25.

Institutional Investors Weigh In On ARK Space Exploration & Innovation ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Flow Traders U.S. LLC raised its position in shares of ARK Space Exploration & Innovation ETF by 69.7% in the first quarter. Flow Traders U.S. LLC now owns 232,611 shares of the company’s stock valued at $4,127,000 after buying an additional 95,560 shares during the last quarter. JPMorgan Chase & Co. boosted its position in ARK Space Exploration & Innovation ETF by 17.8% during the third quarter. JPMorgan Chase & Co. now owns 30,590 shares of the company’s stock worth $873,000 after acquiring an additional 4,631 shares during the last quarter. Jaffetilchin Investment Partners LLC purchased a new stake in ARK Space Exploration & Innovation ETF in the 2nd quarter worth approximately $200,000. Advantage Trust Co acquired a new position in ARK Space Exploration & Innovation ETF in the 2nd quarter valued at $68,000. Finally, Quent Capital LLC purchased a new position in shares of ARK Space Exploration & Innovation ETF during the 3rd quarter worth $71,000.

About ARK Space Exploration & Innovation ETF

The ARK Space Exploration & Innovation ETF (ARKX) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund actively selects global companies engaged in space exploration and innovation. The fund seeks long-term capital growth. ARKX was launched on Mar 30, 2021 and is managed by ARK.