Is the ARK Innovation ETF a Purchase Below $100? By StockNews
© Reuters. Is the ARK Innovation ETF a purchase under $ 100?
Renowned institutional investor Cathie Wood’s Ark Innovation ETF (ARKK) was one of the worst performing ETFs in the technology sector this year, with some of its key holdings losing momentum. And with the Federal Reserve expected to hike rates in the short term, the question is whether ARKK will recover anytime soon. Read More The ETF is down 24.1% year-to-date and 20.3% last month, closing yesterday’s trading session at $ 94.50.
This comes after ARKK rose more than 152.5% in 2020, making it the fastest growing ETF in history. Wood emerged as one of the most profitable investors last year, winning their big bets on electric vehicle (EV) manufacturer Tesla, Inc. (NASDAQ :).
The actively managed ETF had $ 18.38 billion in assets under management as of November 30, 2021. Its main holdings include TSLA, year Inc. (NASDAQ :), Teladoc Health Inc. (NYSE 🙂 and Coinbase Global (NASDAQ :).
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