Cathie Wood's Ark Looks To Launch New ETF Centered On 'Transparency,' Featuring Tesla, Apple
Rachit Vats , Benzinga Staff Writer
September 01, 2021 2:40am Comments
Cathie Wood’s investment management firm
Ark Invest is preparing to debut a new exchange-traded fund focused on transparency, Bloomberg News
reported on Tuesday.
What Happened: Ark’s Transparency ETF will largely have exposure in tech and consumer firms such as
Salesforce.com Inc (NYSE:
CRM),
Tesla Inc (NASDAQ:
TSLA),
Apple Inc (NASDAQ:
AAPL), and
Nike Inc (NYSE:
NKE) among others, as per Bloomberg.
If approved, the ETF would join Ark’s six active traded funds and would be the
second such launch this year after
ARK Space Exploration & Innovation ETF (BATS:
ARKX).
Ark Invest had in March launched ARKX, a fund focused on space-related investments and was then its first ETF launch in nearly two years.
Why It Matters: A
Tesla bull, Wood has in the past openly shown support for transparency in her funds and reveals her stock pickings on a daily basis. She has also been revealing her liking towards stocks that focus on environment, social and governance standards.
Ark manages assets worth over $53.74 billion as of the second quarter this year, regulatory filings show.