35% of Cathie Wood's Flagship ETF Is Invested in Just 5 Stocks
There is arguably no investor more committed to the high-flying tech and crypto sectors than Cathie Wood, the founder and CEO of Ark Invest, which manages several exchange-traded funds (ETFs).
Wood's flagship fund, the Ark Innovation ETF (NYSEMKT: ARKK), is focused on disruptive innovation. Along with the rest of the tech sector, the Ark Innovation ETF has had a volatile couple of years, experiencing huge gains in late 2020 and 2021 only to give up those gains in 2022 after soaring inflation and rapidly rising interest rates really cut into the sector.
But the Ark Innovation ETF is off to a hot start in 2023, already up about 25% amid hopes the Federal Reserve will soon end its rate-hiking campaign. Interestingly, 35% of the Ark Innovation ETF is invested in just five tech and crypto growth stocks.
Source Fool.com
