SARK would track inverse performance of ARKK through swaps After surging 150% in 2020, ARKK is down over 3% this year Those who think Cathie Wood’s hot hand is cooling may soon be able to express that view via an exchange-traded fund. The Short ARKK ETF would seek to track the inverse performance of the $23 billion Ark Innovation ETF (ticker ARKK) -- the largest fund in Ark Investment Management’s lineup -- through swaps contracts, according to a filing Friday with the U.S. Securities and Exchange Commission. The fund would trade under the ticker SARK and charge a 0.75% operating expense, in line with ARKK’s fee. If launched, SARK would serve as a bold bet against one of 2020’s most successful managers. ARKK surged roughly 150% last year with Wood at the helm, frequently doubling down on Tesla Inc. and other high-flying technology shares. However, some of the fund’s hottest stocks have since weighed on its performance as the market’s speculative fervor settles -- ARKK is underwater by 3.6% in 2021, versus the S&P 500’s 17% gain. SARK would be managed by Matt Tuttle, chief executive officer at Tuttle Capital Management LLC, an issuer of thematic and actively-managed ETFs. “In sum, as ARKK already represents a long exposure to a basket of unprofitable tech stocks, we thought that investors should have access to the short side as well,” Tuttle wrote in an email. “Keep in mind there are a lot of non institutional investors, that cannot short stocks or ETFs or they may have trouble finding a borrow to put on the short.” A representative for Ark didn’t immediately respond to a request for comment. Those betting against ARKK via more traditional channels have been boosting those wagers recently. Short interest in the fund is currently 4.6% of shares outstanding, down slightly from a record 5.3% in March, according to data from IHS Markit Ltd.
5 character symbols are reserved for certain equity types, such as mutual funds, OTCBB stocks, ADRs, etc.
Pure stupidity. Betting against Roku & Tesla? You will get your face ripped off in the end. Anyway you can already buy puts on ARK[GKW] as it is.
why do you say this ? I am actually the opposite. I am negative, but only about certain things. TELSA is one one them. At its peak earlier this year, TESLA was worth more than all other car companies COMBINED representing just like 1% of car volume. You think this is normal????? Some argue it is because it is not a car company, but buttery company, but Panasonic makes their batteries. about S2007s, he stopped being negative when 10 trillion got printed, for now. short term all peach and roses, long term probably not.