© Reuters. Is the ARK Innovation ETF a Buy Under $100?
Renowned institutional investor Cathie Wood’s Ark Innovation ETF (ARKK) has been one of the worst-performing ETFs in the tech sector so far this year, with some of its major holdings losing momentum. And because the Federal Reserve is expected to increase interest rates in the near term, the question is will ARKK rebound soon? Read more to find out.Cathie Wood’s flagship Ark Innovation ETF (ARKK) has been one of the worst performing ETFs managed by her asset management company Ark Investment Management LLC. The ETF has slumped 24.1% in price year-to-date and 20.3% over the past month to close yesterday’s trading session at $94.50.
This comes in after ARKK surged 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 big on her major bets on and electric vehicle (EV) maker Tesla, Inc. (NASDAQ:).
The actively managed ETF had $18.38 billion in assets under management as of November 30, 2021. Its major holdings include TSLA, Roku Inc. (NASDAQ:), Teladoc Health Inc. (NYSE:), and Coinbase Global (NASDAQ:).
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