Priya Patel
TLDR:
- Banque Pictet & Cie SA acquired 16,424 shares in ARK Fintech Innovation ETF during the third quarter.
- Other hedge funds also modified their holdings of the company.
In the most recent disclosure with the Securities and Exchange Commission, Banque Pictet & Cie SA revealed the acquisition of 16,424 shares in ARK Fintech Innovation ETF (NYSEARCA:ARKF) during the third quarter. The total value of the purchased shares amounted to approximately $318,000. This move by Banque Pictet & Cie SA was part of a larger trend in which other hedge funds also adjusted their holdings of the company. For instance, Granite Bay Wealth Management LLC significantly increased its holdings in ARK Fintech Innovation ETF by 5,141.1% in the same quarter.
Additionally, Envestnet Portfolio Solutions Inc., Stratos Wealth Partners LTD., Bank of Montreal Can, and Pathstone Family Office LLC all bought new stakes in ARK Fintech Innovation ETF during the third quarter, with varying values ranging from $270,000 to $484,000. These investments reflect a growing interest in the financial technology innovation theme that ARKF is actively managing.
ARK Fintech Innovation ETF, which was launched in February 2019 and is managed by ARK, saw its stock performance with shares opening at $29.40 on a recent trading day. The company’s stock price has fluctuated between a 1 year low of $16.93 and a high of $30.54. As an actively managed fund of stocks related to financial technology innovation, ARKF continues to attract attention from institutional investors and hedge funds looking to capitalize on the growth potential in this sector.
Overall, the acquisition of shares in ARK Fintech Innovation ETF by Banque Pictet & Cie SA and other hedge funds signals a positive outlook on the company’s performance and the potential for growth within the financial technology innovation theme.
