Desire to Short Cathie Wood's ARKK Is Dropping Almost as Fast as the Fund
- Short interest as a percentage of shares falls from April high
- Still, the fund remains in clear downtrend, says James Pillow
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The good news for Cathie Wood after another miserable month for her flagship strategy is that traders are taking bets against her off the table.
Short interest as a percentage of shares outstanding in the ARK Innovation ETF (ticker ARKK) has dropped in recent weeks, with 9.2% of the fund out on loan, according to data from IHS Markit Ltd. That’s down from an April high of 17%. The decline in short interest in the $7.7 billion exchange-traded fund comes amid a 28% slump over the past month.