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Virgin Galactic pilots walk towards the company’s SpaceShipTwo Unity spacecraft, attached to the Eve aircraft carrier.
Galactic Virgo
Ark Invest, Cathie Wood’s company which owns several actively managed exchange-traded funds, will launch its latest fund on Tuesday: a space exploration ETF.
ARKX, the company’s eighth ETF, comes as a growing number of private space companies prepare to go public later this year. In the past six months, seven space companies have announced PSPC deals.
Top 10 ETF stocks by weight:
- Trimble – 8.3%
- The 3D Printing ETF – 6.1%
- Kratos – 5.6%
- L3Harris – 5%
- JD.com – 4.8%
- Komatsu – 4.6%
- Lockheed Martin – 4.5%
- Iridium – 4.3%
- Thales SA – 4%
- Boeing – 3.6%
Ark’s new fund also includes Virgin Galactic (1.95% weighting) among its 39 constituent holdings, as of Friday.
Wood – chief investment officer and CEO of Ark Investment Management – has made a name for himself by investing in “disruptive innovation” stocks. Wood’s flagship fund, Ark Innovation, recorded more than $ 16 billion in inflows in the past year, according to FactSet.
Wood has big bets on names like Tesla, Teladoc, and Roku.
The wood attracted a large number of fans after Ark Innovation brought in almost 150% last year. However, its flagship fund, Ark Innovation, is down nearly 9% this year. Amid the recent rotation of tech names to value stocks due to pressure from rising interest rates, Wood has stayed the course. Ark often buys the drop in one of his main titles, all of which are high conviction names.
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