One of the most popular names in the investing world for 2020 was Cathie Wood. The ARK ETFs were among the top-performing ETFs in 2020 and have become widely followed by retail traders.
What Happened: On Wednesday, Ark Investment Management filed an offering for the Ark Space Exploration ETF under the symbol ARKX.
The actively managed ETF will invest 80% in stocks engaged in the investment theme of space exploration and innovation. Space exploration is defined as “leading, enabling or benefitting from technologically enabled products and/or services that occur beyond the surface of the Earth.”
Space exploration is being grouped into four categories by Ark. The categories are orbital aerospace companies, suborbital aerospace companies, enabling technologies companies and aerospace beneficiary companies.
“The adviser will select investment for the fund that represents the adviser’s highest conviction investment ideas within the them of space exploration,” the filing reads.
The ETF will target companies of all sizes and may invest in foreign securities.
Why It’s Important: The active managed style of the funds along with daily emails that go out showing trades have caused strong price movements in trades that the Ark Funds make.
The Ark Funds are now among the top ten ETF companies with $41.5 billion in assets compared to $3.5 billion a year ago.
The Ark Innovation ETF ARKK has $21.4 billion of assets under management and is up over 150% in the last year. The Ark Genomic Revolution Multi-Sector ETF ARKG is up over 200% in the last year.
Possible Holdings: The goal is for the fund to contain 40 to 55 stocks. The largest percentage of the fund will be concentrated in companies that have their principal business in industries that include information technology and industrials.
Among the names that could be included in the new Space ETF from Cathie Wood are large caps like Boeing Company BA and Lockheed Martin Corporation LMT.
The ETF could also include smaller names like Virgin Galactic Holdings SPCE and Stable Road Acquisition Corp SRAC, a SPAC bringing Momentus public.
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