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Cathie Wood’s newest ARK ETF rises in first day of trading -Breaking

by Mike Robinson

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© Reuters. Cathie Wood (founder and CEO, ARK Investment Management LLC) speaks at the Skybridge Capital New York 2020 conference. It was held in New York City on September 13, 2021. REUTERS/Brendan McDermid/File Photo

By David Randall

NEW YORK (Reuters] ARK Invest, a new fund that is socially conscious was up 1.5% during its opening day Wednesday.

According to the firm, the ARK Transparency ETF will be focusing on “100 of the most transparent companies worldwide”. It gained momentum due to the strong holdings such as Tesla (NASDAQ:) Inc. The broad gained 0.3% on the day.

ARK Invest has launched a new fund, while its flagship ARK Innovation funds are still down 17%. Woods, a popular name among investors in the United States, was able to outperform all U.S. equity fund funds by $17.2 billion last year due to its wager on technology companies.

The portfolio of ARK Transparency funds is still centered on technology. Seven out its 10 largest holdings are connected to that sector. Its largest holdings are not in tech: Buckle, a retailer (NYSE:) Inc. and Bloom Energy (NYSE;) Corp.

ARK Invest didn’t respond to a request of comment.

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