Katie wood, as known, not critically short. However, new ETF, betting against her tech fund, does not arouse interest among investors yet – even though, what the strategy has brought in the first few days 2,8% arrived.
Since the launch in mid-November of the Tuttle Capital Short Innovation ETF (ticker SARK), exchange-traded fund, trades against the rates of the Wood flagship fund ARK Innovation ETF (ARKK), attracted modest $4,7 million, according to Bloomberg data.
This is not a disaster for a new ETF, because money on Wall Street is slow enough. but, so far everything looks like this, as if no one is eager to short stocks from last year's top performing fund portfolio.
After a stormy 2020 ARKK this year fell by 6%. Despite, that many of Katie Wood's chosen companies have lagged behind the market lately, she often emphasizes, that its time horizon is at least five years and that Ark rates can be volatile, because they are made with industry innovation in mind.
SARK, which was originally supposed to be called the Short ARKK ETF, seeks to track ARKK with swap contracts. Last Wednesday, the new exchange-traded fund rose by 2,9%, when ARKK falls by 3,3%, and on Thursday dropped to 0,4%, when the Katie Wood Foundation won back 0,7%.
Based on materials from Bloomberg
