Cathie Wood’s ARK Invest launches a space exploration ETF, to begin trading Tuesday

Virgin Galactic pilots stroll to the corporate’s SpaceShipTwo Unity spacecraft, connected to the jet provider plane Eve.

Virgin Galactic

Ark Invest, Cathie Wood’s agency with a number of actively managed exchanged-traded funds, will debut its newest fund on Tuesday: a space exploration ETF.

ARKX, the agency’s eighth ETF, comes as an rising variety of non-public space corporations put together to go public later this 12 months. In the previous six months, seven space corporations have introduced SPAC offers.

The ETF’s high 10 holdings by weight:

  1. Trimble – 8.3%
  2. The 3D Printing ETF – 6.1%
  3. Kratos – 5.6%
  4. L3Harris – 5%
  5. – 4.8%
  6. Komatsu – 4.6%
  7. Lockheed Martin – 4.5%
  8. Iridium – 4.3%
  9. Thales SA – 4%
  10. Boeing – 3.6%

Ark’s new fund additionally consists of Virgin Galactic (1.95% weight) amongst its 39 constituent holdings, as of Friday.

Wood — chief funding officer and CEO of Ark Investment Management — has made a identify for herself by investing in “disruptive innovation” shares. Wood’s flagship fund, Ark Innovation, has seen greater than $16 billion in inflows previously 12 months, in accordance to FactSet.

Wood has huge bets on names like TeslaTeladoc and Roku.

Wood has garnered a massive following after Ark Innovation returned practically 150% final 12 months. However, her flagship fund, Ark Innovation, is down practically 9% this 12 months. Amid the latest rotation out of know-how names and into worth shares from the strain of rising rates of interest, Wood has stayed the course. Ark usually buys the dip in any of its high holdings, that are all excessive conviction names.

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Written by Business Boy


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