After a stratospheric year, Cathie Wood’s Ark Investment Management is ready to take it a step further: into space.
The New York 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 monitor US and global companies doing exploration and innovation in space.
Following the large inflow over the past year, the once-niche business now oversees $ 41.5 billion in ETF products, compared to less than $ 3.5 billion in the same period in 2020, according to data compiled by Bloomberg. Ark recently had a top-10 ETF issuer, thanks to its $ 21.6 billion Ark Innovation ETF (ARKK) flagship Tesla Inc. as its greatest interest. While the vast majority of ETFs passively follow stock indices, Ark offers five U.S. ETFs that are actively managed, and Wood manages them all.
Following regular trading, Richard Branson set up a business Virgin Galactic Holdings Inc. increased by 6%.
