© Reuters. Is the ARK Innovation ETF a Purchase Below $100?
Famend institutional investor Cathie Wooden’s Ark Innovation ETF (ARKK) has been one of many worst-performing ETFs within the tech sector to this point this yr, with a few of its main holdings shedding momentum. And since the Federal Reserve is anticipated to extend rates of interest within the close to time period, the query is will ARKK rebound quickly? Learn extra to seek out out.Cathie Wooden’s flagship Ark Innovation ETF (ARKK) has been one of many worst performing ETFs managed by her asset administration firm Ark Funding Administration LLC. The ETF has slumped 24.1% in worth year-to-date and 20.3% over the previous month to shut yesterday’s buying and selling session at $94.50.
This is available in after ARKK surged greater than 152.5% in 2020, making it the fastest-growing ETF in historical past. Wooden emerged as one of the crucial worthwhile traders final yr, successful massive on her main bets on and electrical car (EV) maker Tesla, Inc. (NASDAQ:).
The actively managed ETF had $18.38 billion in belongings beneath administration as of November 30, 2021. Its main holdings embrace TSLA, Roku Inc. (NASDAQ:), Teladoc Well being Inc. (NYSE:), and Coinbase World (NASDAQ:).
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