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Cathie Wood's Ark Invest Continues To Double Down On Moderna, Sells Nvidia Shares
Benzinga (Tue, 26-Mar 10:30 PM ET)
Benzinga (Tue, 26-Mar 2:25 AM ET)
Cathie Wood Expects Bitcoin (BTC-USD) to Hit $3.8M
TipRanks (Mon, 25-Mar 11:20 AM ET)
Benzinga (Mon, 25-Mar 4:29 AM ET)
ARK will select investments for ARKK that represent its highest-conviction investment ideas within the theme of disruptive innovation, as described above, in constructing the Fund s portfolio. The Fund is an actively managed exchange-traded fund ( ETF ) that will invest under normal circumstances primarily (at least 65% of its assets) in domestic equity securities and U.S. exchange traded foreign equity securities of companies that are relevant to the Fund s investment theme of disruptive innovation.
Ark Innovation ETF trades on the ARCA stock market under the symbol ARKK.
As of March 28, 2024, ARKK stock price climbed to $50.24 with 5,378,964 million shares trading.
ARKK has a beta of 2.39, meaning it tends to be more sensitive to market movements. ARKK has a correlation of 0.57 to the broad based SPY ETF.
ARKK has a market cap of $7.79 billion. This is considered a Mid Cap stock.
In the last 3 years, ARKK stock traded as high as $132.50 and as low as $29.43.
ARKK has outperformed the market in the last year with a return of +34.0%, while the SPY ETF gained +33.6%. However, in the most recent history, ARKK shares have underperformed the stock market with its stock returning -7.4% in the last 3 month period and -0.2% for the last 2 week period, while SPY has returned +10.1% and +1.7%, respectively.
ARKK support price is $49.04 and resistance is $51.18 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ARKK stock will trade within this expected range on the day.