After a stratospheric year, Cathie Wood’s Ark Investment Management is ready to take it a step further: Into space.
The New York-based company plans to launch the ARK Space Exploration ETF (ticker ARKX), according to a filing with the Securities and Exchange Commission. The actively managed exchange-traded fund will primarily track US and international companies engaged in space exploration and innovation.
After massive inflows in the past year, the once-niche firm now oversees approximately $ 41.5 billion in ETF products, compared to less than $ 3.5 billion in the same period in 2020, according to data collected by Bloomberg. Ark has recently become a top-10 ETF issuer, thanks in large part to its $ 21.6 billion flagship Ark Innovation ETF (ARKK) that Tesla Inc. as the largest holding company. While the vast majority of ETFs passively track stock indexes, Ark offers five actively managed US ETFs, and Wood manages them all.
Richard Branson founded the company after the close of mainstream trade Virgin Galactic Holdings Inc. increased by 6%.
