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Cathie Wood’s flagship ARK Innovation ETF saw inflows for the third straight week, marking the highest level in a year.
Source: Bloomberg
ARKK is down 7.99%, while TARK is down 16.19%.
The exchange-traded fund saw $366.7-million worth of inflows on Tuesday, marking the biggest in a year. This brings the inflows to $447.4 million this week, extending the inflows for the third straight week.
The latest influx comes after the ETF saw its worst monthly performance in April, when it fell by almost 29%, as technology stocks declined amid the increase in interest rates.
Analysts believe the latest inflows indicate that investors are buying the dip, as they think that prices are at low enough levels to “go long” even for just a short duration.
ARKK has already posted an 11% growth this week, doubling the jump in the Nasdaq 100 and almost triple the increase in the S&P 500.
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