Cathie Wood, chief executive officer and chief investment officer of ARK Investment Management LLC, speaks at the Sooner Than You Think conference in Brooklyn, New York on Tuesday, October 16, 2018.
Alex Flynn | Bloomberg | Getty images
Ark Invest’s flagship fund, Ark Innovation, took a beating this week amid the sell-off of innovation names under pressure from rising interest rates.
Shares of the ETF are down more than 14% this week and down 30% from its all-time high. The fund wiped out all of its gains in 2021 this week, down more than 10% for the full year.
Shares of Ark Innovation lost nearly 6% on Friday.
Wood stayed on track, using the tech wreck this week as an opportunity to buy the dip in some of her ETF’s top positions.