Cathie Wood’s Flagship Added $341 Million Just Ahead of Big Gain
- Fund saw $341 million inflow a day before posting 10% spike
- Cathie Wood still has believers, WallachBeth’s Bajaj says
Cathie Wood
Photographer: Kyle Grillot/BloombergThis article is for subscribers only.
Cathie Wood fans are back at it -- and this time they got the timing right.
Dip-buyers rushed into Wood’s flagship exchange-traded fund on Tuesday, adding more than $341 million to the ARK Innovation ETF (ticker ARKK), the largest single-day inflow since May of last year, according to data compiled by Bloomberg. A day later, ARKK jumped 10.4%, its steepest surge since last March.