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Kathy Wood’s Innovation ETF has raised $1 billion.Why investors love her

Kathy Wood’s Innovation ETF has raised $1 billion.Why investors love her

 


A disastrous 2022 for Ark Invest has not caused clients to withdraw their funds. Rather, Kathy Wood’s loyal investors are doubling down on her disruptive strategy this year. Wood’s flagship Ark Innovation ETF (ARKK) has attracted $1.3 billion in new funding year-to-date, despite a 60% loss, according to FactSet, which is the same as all U.S. listings. It is in the top 3% of mutual funds. With her $6.9 billion in assets under management, ARKK is widely held by retail investors and smaller institutions who tend to allocate a small portion of their portfolios to disruptive technologies. The slight weighting gave us room to be more loyal and patient despite the dramatic drawdown. Some are taking advantage of this year’s selling to increase their holdings. Todd Rosenbluth, Head of Research at VettaFi, said: Innovation and his ARKK have attracted the attention of the majority. The Innovation Fund focuses on leading technology companies in areas such as genomics, robotics, internet and fintech. Wood’s top holdings, including Zoom Video, Roku and Teladoc, experienced explosive growth during the pandemic, but he was one of the biggest losers this year. . But Mr. Wood isn’t shaken by the big recession. She buys her favorite growth-named dips all year round, and so do many of her investors. “If you decide you want to put a 2% to 5% weight on a fund in your portfolio, that position has shrunk this year, but people are coming back to it with confidence,” Rosenbluth said. ETFs had a dramatic relief rally on Thursday against the backdrop of falling inflation. It rose more than 14%, marking its biggest one-day gain since the start of 2014. Wood has been calling for deflation for some time and speculates that the high prices that have emerged since 2021 are due to temporary Covid-related supply problems. Wood recently said her confidence in deflation has increased, and the latest consumer price index report may indicate the trend has started to move in her direction. As well as attracting growth investors, its massive liquidity also makes it attractive to short-term momentum traders who use it as a proxy for disruptive technology investments.Chris Murphy, Co-Head of Derivatives Strategy at Susquehanna Mr. “It is used by short-term high-beta momentum type investors, as well as long-term ‘set and forget’ investors who have exposure to the most unique technology stocks and want to stay away from it. is also used in Volume benefits from both. According to FactSet, ARKK says he trades an average of nearly 25 million shares a day, which is about a quarter of the trading volume of the Monster SPDR S&P 500 ETF. The fund is also one of his top 15 ETFs with the most active options activity, according to Murphy. On the other hand, ARKK has a high beta value, meaning it is more volatile than the market as a whole. If the rest of the market rises, the fund will rise further and vice versa. Unlike the S&P 500 and the Nasdaq Composite, ARKK, which has a high concentration in mega-cap stocks such as Apple and Microsoft, owns only 32 shares and does not own these tech giants. Wood’s Recognition The sole manager of ARKK, her Wood has drawn attention on Wall Street not only for her fund’s impressive rounds, but also for how consistently she’s been vocal about her own strategy. became. “There are a lot of ETFs out there, but this one has a definite following,” Murphy said. “She’s consistent. She sticks to her guns.” Wood is known for her bold claims against Tesla and Bitcoin. In her latest call to Tesla, her stock is projected to hit $4,600 by 2026 (or her $1,533, adjusted for her 3-to-1 split this year). . Tesla shares are down 46% this year, trading at about $189 a share. The 66-year-old, who graduated from the University of Southern California, believes that the price of Bitcoin will rise over the next five years if companies continue to diversify their money management and institutional investors continue to allocate 5% of their portfolios to Bitcoin. says he will soar to $500,000. Cryptocurrencies fell below $17,000 on Friday. Wood also maintains transparent relationships with clients, sharing daily trades and calling investors regularly to keep clients informed of her movements and outlook. “Ark has done a great job of providing investor education about the strategy, what the fund is and why it is inside the fund in order to make them feel part of the strategy,” said Rosenbluth. said Mr.

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