Ark’s Flagship Fund Slips in Early Trading as Flows Stabilize

Bookmark

Cathie Wood’s flagship exchange-traded fund edged lower in early trading on Thursday, poised to extend its decline into a fourth day.

The ARK Innovation ETF (ticker ARKK) was down about 1.3% as of 5:22 a.m. in New York, as futures for the tech-heavy Nasdaq 100 Index retreated 0.6%. The fund has fallen 9.4% this week through Wednesday amid a broader selloff in pricier-looking parts of the stock market.

The latest figures show that ARKK attracted $27.7 million on Tuesday. That’s a tiny amount compared with recent inflows to the Ark Investment Management ETF, but follows a record $465 million exit posted a day earlier.

Ark’s Flagship Fund Slips in Early Trading as Flows Stabilize

The ARK Genomic Revolution ETF (ARKG) and the ARK Next Generation Internet fund (ARKW) continued to see withdrawals, losing $128 million and $51 million, respectively. That follows a record outflow for each product on Monday. ARKG edged lower in early trading.

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.