Cathie Wood's Flagship Fund Has Traded Lower Every Day In August: What's Going On? - ARK Innovation ETF (ARCA:ARKK)

Cathie Wood's fund, ARK Innovation ETF ARKK has traded lower every day in August and is now down more than 11% month-to-date. Here's a look at what's going on.

What To Know:

ARKK's top holdings, Tesla, Inc. TSLA and Roku, Inc. ROKU, are down more than 11% and 16% for the month of August, respectively. Rounding out the top five ARKK holdings are Coinbase Global, Inc. COIN, down more than 17% in August, Zoom Video Communications, Inc. ZM, down 8% for the month, and Block, Inc. SQ which is down more 25% since Aug. 1.

The ARKK fund has sold more than 573,00 shares of ROKU and more than 103,000 shares of TSLA during the month of August.

Technology stocks have carried the broader markets higher in the first half of the year, but many are expecting the sector to cool off. According to Dow Jones Market Data, August is the second-worst month for the Nasdaq Composite, and the index is down nearly 5% for the month.

ARKK Price Action: According to data from Benzinga Pro, shares of ARKK are down by 0.42% at $42.55 at the time of publication.

Image: geralt from Pixabay

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