These are the stocks helping to tank the high-flying ARK Innovation ETF over the past week

(Updates story with closing prices for Feb. 23.)

The Ark Innovation ETF has been a top performer. But there are always pullbacks, or worse, for any investing approach.

The Ark Innovation ETF

holds 52 stocks of companies selected by Cathie Wood, founder and CEO of ARK Invest, that are involved with innovation in various technology, products or services.

The actively managed exchange traded fund was established on Oct. 31, 2014.

Here’s how it performed from inception through the close Feb. 23, 2021, compared with the Nasdaq Composite Index

and the QQQ Trust
which tracks the Nasdaq-100 Index


The ARK Innovation ETF took flight last year. (FactSet)

But ARKK’s shares were down 12% for one week through Feb. 23.

Fear of inflation, as evidenced by rising interest rates, has led to outperformance of value stocks and a decline for the Nasdaq Composite Index

over the past three weeks.

Read: If you think it’s time to shift to value stocks, here are Wall Street’s favorites

As of the close Feb. 22, the ETF’s largest holding was Tesla Inc.
which made up 8.3% of the ARKK portfolio, followed by Roku Inc.
with a 7.2% weighting, Square Inc.
at 5.5%, Teladoc Health Inc.
at 5.1%, and Baidu Inc.’s

American depositary receipts, at 3.9%.

Here’s how all five of those stocks performed on Feb. 23:

Scroll the table to see all the data.

Here are the 20 worst performers among ARKK’s holdings over the past week:

Don’t miss: If you want to get rich with marijuana stocks, you need to know the crucial difference between U.S. and Canadian companies

Most Related Links :
todayuknews Governmental News Finance News

Source link

Back to top button