Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Cathie Wood's newest ARK ETF rises in first day of trading

Published 12/08/2021, 04:53 PM
Updated 12/08/2021, 04:57 PM
© Reuters. Cathie Wood, founder and CEO of ARK Investment Management LLC, speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 13, 2021. REUTERS/Brendan McDermid/File Photo

By David Randall

NEW YORK (Reuters) - A new socially focused fund from star stock picker Cathie Wood's ARK Invest rose 1.5% in its first day of trading Wednesday.

The ARK Transparency ETF, which the firm says will focus on the "100 most transparent companies in the world," gained ground on the strength of top holdings including Maxlinear (NYSE:MXL) Inc and Tesla (NASDAQ:TSLA) Inc. The gains came as the broad S&P 500 index rose 0.3% for the day.

ARK Invest's new fund comes as its flagship ARK Innovation fund remains down 17% for the year to date. The $17.2 billion fund outperformed all other U.S. equity funds last year thanks in part to its bet on technology companies that rallied during the early stages of the pandemic, helping turn Woods into a household name among retail investors.

The ARK Transparency fund's portfolio retains a technology focus, with seven out of its 10 largest holdings connected to the sector. Among its largest holdings outside of tech are retailer Buckle (NYSE:BKE) Inc and green energy firm Bloom Energy (NYSE:BE) Corp.

ARK Invest did not respond to a request for comment.

Latest comments

ahhh cathie the queen of distribution. a puppet.
Another over hyped Cathie Wood ETF, if free PR could be accumulated and put back into her over rated ETF's then I would certainly invest, for now prefer to avoid them like the plague
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.