After a stratospheric year, Cathie Wood’s Ark Investment Management is ready to go one step further: into space.
The New York-based firm plans to launch the ARK Space Exploration ETF (ticker ARKX), according to a document submitted to the Securities and Exchange Commission. The actively managed exchange traded fund will be a major follow-up to U.S. and global companies engaged in space exploration and innovation.
After massive inflows over the past year, the now-niche firm now oversees about $ 41.5 billion in ETF products, compared to less than $ 3.5 billion in the same period in 2020, according to data collected by Bloomberg. Ark recently became a top-10 ETF issuer, thanks in large part to its $ 21.6 billion Ark Innovation (ARKK) ETF Tesla Inc. as their largest share. While the vast majority of ETFs passively track stock indices, Ark offers five actively managed US ETFs and Wood manages them all.
After the close of regular trade, Richard Branson founded the company Virgin Galactic Holdings Inc. shot up 6%.
