For those invested in ARK Invest exchange-traded funds (ETFs) or growth stocks, it may be wise to venture out into value investments or reliable dividend-paying stocks. ARK Investment Management strategy specializes in thematic investing by providing long-term capital appreciation by investing in the leaders, enablers, and beneficiaries of disruptive innovation.
So far, Cathie Wood’s flagship ARK Innovation ETF ARKK is down by at least 62% year-to-date and its ARK Autonomous Technology & Robotics ETF ARKQ which is down by more than 42% year-to-date.
For the purpose of this article, Benzinga found two dividend stocks Wood’s ARK Autonomous Technology & Robotics ETF holds. As dividend stocks are typically uncommon in Wood’s ETFs, it is no surprise that the fund holds these two industry leaders in heavy equipment.
Learn more about these two dividend stocks Wood holds in her portfolio:
- Caterpillar Inc. CAT offers a dividend yield of 2.06% or $4.80 per share annually, utilizing quarterly payments, with an aristocratic track record of increasing its dividends for 29 consecutive years. The company is an iconic manufacturer of heavy equipment, power solutions, and locomotives and is currently the world's largest manufacturer of heavy equipment, with over 13% market share in 2021. Wood decreased her fund's stake in Caterpillar by roughly 6.73% to 96,189 shares in the third quarter.
- Deere & Company DE is offering a dividend yield of 1.03% or $4.52 per share annually, through quarterly payments, with a track record of increasing its dividends once in the past year. The agricultural equipment manufacturer, which produces some of the most recognizable machines in the heavy machinery industry, also provides retail financing for machinery to its customers. During the third quarter, Wood decreased Ark's stake in Deere by approximately 6.63% to 176,668 shares.
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