Cathie Wood’s flagship fund Ark Innovation ETF (ARKK) seems to gather momentum after falling almost 64 per cent over the last 1-year. Of late, the investors are showing interest in the ETF ARKK once again. According to data compiled by Bloomberg, investors have poured money into the $9.5 billion Ark Innovation ETF (ticker ARKK) for eight straight days, with the amount totaling $639 million. The last time there was that long a span of cash pouring in was in March 2021, about a month after the fund peaked.
As the ETF ARKK fights back from an interest rate hike-fueled decline, the fund has posted its longest streak of inflows in over a year.
In a note written in May 2022, Catherine Wood, Chief Investment Officer, ARK Investment Management said, “ If our research on the genomic revolution, adaptive robotics, energy storage, artificial intelligence, and blockchain technology is even half right, we believe their exponential growth will propel the companies associated with those platforms forward at remarkable speed during the next five years.”
ARKK is an actively managed Exchange Traded Fund (ETF) that seeks long-term growth of capital. It seeks to achieve this investment objective by investing under normal circumstances primarily (at least 65% of its assets) in domestic and foreign equity securities of companies that are relevant to ARKK’s investment theme of disruptive innovation.
Companies within ARKK include those that rely on or benefit from the development of new products or services, technological improvements and advancements in scientific research relating to the areas of DNA technologies, industrial innovation in energy, automation and manufacturing, the increased use of shared technology, infrastructure and services, and technologies that make financial services more efficient.