Bearish Bets Against Ark ETFs Surge After ‘Meteoric’ Rally
- Short interest near all-time highs on firm’s top three ETFs
- Ark’s fund lineup has already attracted $3 billion in 2021
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A cohort of contrarians are wagering that the torrid streak for the top three exchange-traded funds managed by Cathie Wood will soon fizzle out.
Short interest as a percentage of shares outstanding on the flagship $21 billion ARK Innovation ETF (ticker ARKK) jumped to an all-time high of 1.9% from about 0.3% a month ago, according to data from IHS Markit Ltd. A similar spike can be seen across the Ark Investment Management lineup, with bearish wagers on the $9.4 billion ARK Genomic Revolution ETF (ticker ARKG) and the $5.9 billion ARK Next Generation Internet ETF (ticker ARKW) also near records.