Why the Ark Innovation ETF Rose 9.9% This Week
The Ark Innovation ETF (NYSEMKT: ARKK) saw its stock price rise 9.9% this week from last Friday's close through 11 a.m. ET today, according to S&P Global Market Intelligence. The ETF is up about 42% year to date (YTD) as of Feb. 3, trading at around $44 per share as of 11 a.m. ET.
The ETF outperformed the major market indexes, as the S&P 500 was up 2.6%, the Dow Jones Industrial Average gained 0.4%, and the Nasdaq Composite jumped 4.8% this week, as of Feb. 3 at 11 a.m. ET.
The Ark Innovation ETF is an exchange-traded fund run by famed portfolio manager and founder and CEO of Ark Investment Management, Cathie Wood. It is a little different from most, as it is actively managed, with the portfolio picked by Wood and her team, who look for companies that are disruptive innovators.
Source Fool.com
