It’s a long way from undoing recent damage to Wood’s main ETF -- the fund would have to jump about 260% from here to reclaim its all-time high. But at least it provides some respite for the faithful.
Ultimately, investors continue to lean on Ark ETFs as vehicles to get in and out of disruptive technology. In a turbulent week for the flagship fund, trading volume surged to a record 316 million shares.
As Ark sticks to its strategy, investors “know exactly what they’re going to get” and can rely on its funds to make pure-play trades on innovation, Geraci said. “The benefit of Cathie Wood not wavering from her strategy during this brutal downturn is that I think it will help the longer-term viability of Ark.”
This article was provided by Bloomberg News.