ARK Fintech Innovation ETF (NYSEARCA:ARKF) Trading Down 0.5% – Here’s What Happened

ARK Fintech Innovation ETF (NYSEARCA:ARKF) was down 0.5% during mid-day trading on Friday . The stock traded as low as $47.39 and last traded at $47.81. Approximately 512,005 shares were traded during mid-day trading, an increase of 84% from the average daily volume of 277,691 shares. The stock had previously closed at $48.06.

ARK Fintech Innovation ETF Trading Down 0.5%

The company’s fifty day simple moving average is $49.10 and its 200 day simple moving average is $52.55. The stock has a market capitalization of $1.09 billion, a P/E ratio of 36.31 and a beta of 1.94.

ARK Fintech Innovation ETF Announces Dividend

The firm also recently announced an annual dividend, which was paid on Monday, December 29th. Investors of record on Friday, December 26th were given a dividend of $0.043 per share. This represents a yield of 9.0%. The ex-dividend date was Friday, December 26th.

Institutional Trading of ARK Fintech Innovation ETF

Several institutional investors and hedge funds have recently modified their holdings of ARKF. Archer Investment Management LLC bought a new position in shares of ARK Fintech Innovation ETF during the 3rd quarter valued at about $2,113,000. Stephens Inc. AR boosted its stake in ARK Fintech Innovation ETF by 14.1% in the second quarter. Stephens Inc. AR now owns 10,153 shares of the company’s stock worth $510,000 after buying an additional 1,253 shares in the last quarter. Focus Financial Network Inc. bought a new position in ARK Fintech Innovation ETF during the second quarter valued at approximately $238,000. Farther Finance Advisors LLC grew its position in ARK Fintech Innovation ETF by 9,586.2% during the second quarter. Farther Finance Advisors LLC now owns 2,809 shares of the company’s stock valued at $141,000 after acquiring an additional 2,780 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new position in shares of ARK Fintech Innovation ETF during the second quarter worth approximately $536,000.

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 managed by ARK.