After a stratospheric year, Cathie Wood’s Ark Investment Management is ready to take a step further: into space.
The New York-based company plans to launch the ARK Space Exploration ETF (ticker ARKX), according to a deposit at the Securities and Exchange Commission. The actively managed stock exchange fund will primarily target American and global companies engaged in space exploration and innovation.
After massive inflows in the last year, the former niche company is now overseeing about $ 41.5 billion in ETFs, compared to less than $ 3.5 billion in the same period in 2020, according to data compiled by Bloomberg. Ark has recently become a the largest issuer of 10 ETFs, largely thanks to its $ 21.6 billion Ark Innovation (ARKK) ETF Tesla Inc. as the largest holding. While the vast majority of ETFs passively track stock indices, Ark offers five actively managed US ETFs, and Wood manages them all.
After completing the usual transactions, Richard Branson founded the company Virgin Galactic Holdings Inc. increased by 6%.
