Cathie Wood's Ark Looks To Launch New ETF Centered On 'Transparency,' Featuring Tesla, Apple

Cathie Wood's Ark Looks To Launch New ETF Centered On 'Transparency,' Featuring Tesla, Apple

Cathie Wood’s investment management firm Ark Invest is preparing to debut a new exchange-traded fund focused on transparency, a filing with the U.S. Securities and Exchange Commission revealed.

What Happened: Ark’s Transparency ETF will largely have exposure in tech and consumer firms such as Salesforce.com Inc CRM, Tesla Inc TSLA, Apple Inc AAPL, and Nike Inc NKE among others, as per Bloomberg.

If approved, the ETF would join Ark’s six active traded funds and would be the second such launch this year after ARK Space Exploration & Innovation ETF ARKX.

Ark Invest had in March launched ARKX, a fund focused on space-related investments and was then its first ETF launch in nearly two years.

Why It Matters: A Tesla bull, Wood has in the past openly shown support for transparency in her funds and reveals her stock pickings on a daily basis. She has also been revealing her liking towards stocks that focus on environment, social and governance standards. 

Ark manages assets worth over $53.74 billion as of the second quarter this year, regulatory filings show.

Price Action: Ark’s flagship fund the Ark Innovation ETF ARKK closed 0.62% lower at $122.03 on Tuesday

Posted In: ARK InvestCathie WoodTransparencyNewsBroad U.S. Equity ETFsTechETFs