Cathie Wood’s Flagship Fund Posts Largest Outflow on Record
- ARKK loses $137 million amid biggest rout since early November
- Investors may be booking profits after massive returns: CFRA
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The largest product from Cathie Wood’s prominent exchange-traded fund lineup did something unusual on Tuesday -- it posted outflows.
ARK Innovation ETF (ARKK) had $137 million in outflows on Tuesday, its largest exit on record, according to data compiled by Bloomberg. Drawdowns are far from the norm for the $17.6 billion fund, which hasn’t experienced a daily withdrawal since early November nor a weekly one since February.