Wouldnt be surprised at all. Its down with the market now, but this morning, it was actually up with the market down a few hundred points. I found that odd.
Crap, I just read she bought 250000 shares of NVDA. I have been in NVDA for a long time, and have sold calls against, and traded in and out of a portion of my position along the way, but now I wonder if it isn't time to bail.
First shoe to drop? Cathie Wood’s ARK to shut Transparency ETF The shutdown will mark the first fund closure since Wood launched her firm in 2014 By Eric Wallerstein Wednesday July 20, 2022 8:17 am ARK Investment Management is shutting down its transparency exchange traded fund, the first fund closure since Cathie Wood launched her firm in 2014. The ARK Transparency ETF, which was launched in December, will close later this month, according to a regulatory filing. ARK currently has nine ETFs, including the transparency fund. The fund tracked the Transparency Index, which includes the 100 most transparent global companies deemed by index provider Transparency Global. On its website, ARK describes transparent companies as those with “higher consumer satisfaction, fewer financial crimes and fewer environmental violations while offering long-term growth potential to investors.” Earlier this month, Transparency Global told ARK that it would no longer calculate the ETF’s underlying benchmark after July, according to the filing. ARK was unable to find an alternative index provider, which led to the decision to close the fund. READ Cathie Wood’s flagship Ark ETF hit with Morningstar downgrade on risk of ‘severe losses’ The transparency fund had accumulated $12m in assets and had fallen nearly 36% since its inception, according to FactSet. Some of the fund’s largest holdings included Teladoc Health and Bill.com, which are both down about 50% this year. Wood and her flagship innovation fund shot to prominence in 2020, when the fund’s shares soared nearly 150% as the Federal Reserve slashed interest rates to near zero and investors loaded up on risk. The S&P 500, by comparison, rose 16% that year. The innovation fund is down more than 50% this year and holds more than $9bn in assets under management. Investors have added nearly $1.7bn to the fund this year. The transparency fund will no longer accept creation units after 21 July and will cease trading on the Cboe BZX Exchange after July 26, according to a statement from the firm. https://www.fnlondon.com/articles/c... is shutting,according to a regulatory filing.