Several foreign media reported that less than 3 months after the listing of an ETF that reversed shorting ARKK, the asset management scale has accumulated 234 millionDollar, with outstanding results.
As the rise in U.S. bond yields hit speculative technology stocks, Cathie Wood, known as the “Goddess of Technology Stocks”, lost her halo, and its ARK Innovation ETF (ARKK) underperformed and underperformed the broader market, becoming a market reaction. index.
The “Tuttle Capital Short Innovation ETF” launched by Tuttle Capital Management was listed on Nasdaq on November 9 last year. The fund, formerly known as “Short ARKK ETF”, is a reverse short ARKK ETF (SARK ) to track ARKK’s inverse performance through swaps contracts.
ARKK has fallen 42% since November last year, and SARK has been established for less than 3 months, the return rate has reached 56%, and it has attracted 234 millionDollar。
It is worth noting that there are about 200 million SARKDollar‘s assets come from capital inflows, showing investors’ strong willingness to short the female stock god Wood.
SARK has seen inflows even when ARKK’s stock price has risen, said Matthew Tuttle, chief executive of Tuttle Capital Management. Investors are increasingly using SARK as a bet on the macro environment, not just to short ARKK.
Foreign media analyst James Seyffart believes: “The trend is the investor’s friend, and for ARK, the current trend is still negative.”
ARKK is down more than 20% in 2021, far less than the 150% gain in 2020. The female stock god Wood still insisted earlier this month that ARKK will achieve a compound annual growth rate of 40% in the next five years.
She has said that she doesn’t mind investors shorting ARKK, because part of the upward momentum in Ark’s investment policy comes from short covering.
Over the past three months, Ark Fund’s largest holding in Tesla (TSLA-US) rose 9%. But the second largest holding, Zoom Video Communications (ZM-US) plummeted 46%, with third-largest holding Teladoc Health (TDOC-US) collapsed 48%, Roku (YEAR-US) lose 55%.