JULIE HYMAN: And just a quick note, though, when you look at ARKF, if you can call it up again and do a five-year chart. And that's really come to light over the last 4 to 6 weeks. It's undeniable that this is a bullish rally that we're in that is swept up finally the fringe elements. But you take a look at the net performance. Don't take too much in the daily sellings and buyings of these innovation funds. So I think there is a little bit of all of that in what we're seeing here. And it's because a lot of these names were just so battered and bruised last year that they have been the most ripe for short covering rallies. A lot of these names were heavily shorted. They're on the fringe of these investments. And arguably, Cathie Wood's funds are on the fringe. We've seen a lot of other things get sucked up into the trade, into this bullishness. As I've been noting, June was kind of a bellwether- there was a bellwether event at the beginning of the month, that was nonfarm payrolls changed the characteristic of the rally where we saw a lot of participation besides the mega caps that we'd seen so far. And then you take a look at the Innovation Fund, the flagship fund, similar story there too. The financial, the Fintech ETF also has a similar chart, up just a little bit less. That's when it broke through these highs that we got earlier in the year. This is the Next Generation Internet ETF, really took off in June along with a lot of other things here. And the number one, not surprisingly, is centered around tech in the US. These are all of her ETFs, have eight of them year to date. So let's take a look now at the performance of her basket of funds. I hadn't looked at this in a few weeks, but this is almost a perfect from the lower left to the upper right chart here with very low volatility, absent these few what look like earnings announcement days in there. Now, if you take a look at this chart, this is 160% year to date, far and above what these other two are doing, but she's adding to this position. And what she's selling or excuse me, what she's buying here is actually Meta. ![]() You can see Coinbase also up a significant amount. And so by her disclosure document, she has to sell a little, if there's- in other words, if it becomes too concentrated.īut here's coinbase. Sometimes she only- she can only allocate a certain amount to any of these funds. Why she sold before, she said, sometimes the price goes far enough, fast enough that, well, she wants to take some of those profits. I told you we don't know exactly why she might be selling. That is over her Innovation ETF and the Next Generation Internet ETF as well.īut let's take a look at some of the charts here and just see what's going on. Now, she's also selling Tesla, $13.1 million worth. ![]() Last Friday, all of her funds put together sold about $50 million worth, while another $26.3 million yesterday spread among her fintech innovation fund, the flagship ARK Innovation ETF. Coinbase, there's been more selling overnight. But the reason, we don't know that much is a black box.īut here's what we do know. ![]() Now, by the way, Cathie Wood's operates some very transparent funds in terms of disclosing on a daily basis what she's buying and selling. JARED BLIKRE: Let's take a look at what she's selling here. Yahoo Finance's Jared Blikre joins us now with the details. Cathie Wood's ARK investment funds discarding more shares of Tesla and Coinbase, but still scooping up shares of Twilio.
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