ARK Space Exploration & Innovation ETF (BATS:ARKX) Trading 68.6% Higher – Still a Buy?

ARK Space Exploration & Innovation ETF (BATS:ARKX) shares were up 68.6% on Thursday . The stock traded as high as $20.1250 and last traded at $32.8350. Approximately 55,744 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 122,544 shares. The stock had previously closed at $19.48.

ARK Space Exploration & Innovation ETF Price Performance

The company’s fifty day simple moving average is $28.76 and its 200-day simple moving average is $27.65. The firm has a market capitalization of $454.76 million, a PE ratio of 28.18 and a beta of 1.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARKX. Advantage Trust Co acquired a new stake in ARK Space Exploration & Innovation ETF in the second quarter worth about $68,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of ARK Space Exploration & Innovation ETF in the 2nd quarter valued at approximately $200,000. JPMorgan Chase & Co. raised its position in shares of ARK Space Exploration & Innovation ETF by 17.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,590 shares of the company’s stock valued at $873,000 after purchasing an additional 4,631 shares during the last quarter. Quent Capital LLC acquired a new stake in ARK Space Exploration & Innovation ETF in the 3rd quarter worth approximately $71,000. Finally, Sunbelt Securities Inc. boosted its stake in ARK Space Exploration & Innovation ETF by 84.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 875 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares in the last quarter.

ARK Space Exploration & Innovation ETF Company Profile

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.