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.comIncCRM 0.03%,Tesla Inc, Apple Inc , and Nike Inc among others, as per Bloomberg.
If approved, the ETF would join Ark’s six active traded funds and would be the second suchlaunch 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.
Price Action:Ark’s flagship fund the Ark Innovation ETF closed 0.62% lower at $122.03 on Tuesday
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