Business Maverick: Every ARKK Holding Is in the Red This Year Except for Its Cash

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Business Maverick: Every ARKK Holding Is in the Red This Year Except for Its Cash
Nederland Laatste Nieuws,Nederland Headlines

The violent stock selloff on Thursday means every single bet in Cathie Wood’s flagship strategy has lost money this year, with the sole exception of a money-market cash holding.

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Exposure to BNY Mellon’s Dreyfus Government Cash Management Fund has contributed 0.03% to the ARK Innovation ETF while all its stocks were in the red for the year as of the Thursday close, according to data compiled by Bloomberg.

Only a fraction of the $9.4 billion ARKK is in the Dreyfus fund — about $4 million, according to Bloomberg data. Still, Wood’s fans appear to be sticking with her. The latest data show almost $600 million poured into ARKK in the three days through Wednesday.

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