After a stratospheric year, Cathie Wood’s Ark Investment Management is ready to take it a step further: Into space.
The New York-based company is planning 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 mainly track American and global companies involved in space exploration and innovation.
After massive inflows last year, the once niche company now manages about $ 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 became a 10 biggest ETF issuers, thanks in large part to its $ 21.6 billion Ark Innovation ETF (ARKK) flagship that has Tesla Inc. as its largest stake. While the vast majority of ETFs passively track stock indices, Ark offers five actively managed US ETFs, and Wood manages all of them.
After regular negotiations closed, Richard Branson founded the company Virgin Galactic Holdings Inc. soared 6%.
