Renowned investor Kathy Wood, CEO of Arc Investment Management, has bought shares in a biotech and a technology company focused on enabling international e-commerce.
He has also sold four companies. All assessments below are as of Tuesday off.
Arc Fintech Innovation ETF (RKF) – Receive ARK Fintech Innovation ETF Report Global e has bought 96,707 shares online (Hats off) E-commerce company, valued at 2.2 million.
Global-e online e-commerce platform, the website says, “Localization capabilities, big-data, best practice business intelligence model, [and] Well-organized international logistics [to] Enables retailers and brands to convert and increase international traffic and achieve significant global online growth. “
The stock jumped 18% on May 17 but is still trading near 52 84, a quarter of its 52-week high, which was set at the end of last August.
Ark Fund snatches 4,049,903 shares of Ginkgo Bioworks (DNA) Value 11.1 million.
In terms of sales, Arc Genomic Revolution ETF (RKG) – Get ARK Genomic Revolution ETF Report Burning Rock sold 112,333 shares of Biotech (BNR) Price 361,712.
Arc Innovation ETF (ARKK) – Receive ARK Innovation ETF Report Singapore-based Sea has sidelined 158,765 shares (SE) – Pan C Limited (Singapore) ReportA digital entertainment company, valued at 12.7 million.
Ark Fintech has unloaded 7,492 shares of Innovation Intuit (INTU) – Intuit Inc. Get the reportFinancial management software company, valued at 2.8 million.
And Ark Autonomous Technology & Robotics ETF (ARKQ) – Get ARK Autonomous Technology and Robotics ETF report Lockheed has dumped 1,403 shares of Martin (LMT) – Receive Lockheed Martin Corporation ReportThe world’s largest defense contractor, valued at 618,723.
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Behind the S&P 500
With Ark’s funding dwindling in recent months, Wood has defended himself, citing his five-year investment horizons.
And its flagship fund Arc Innovation’s five-year track record could actually comfort investors until May 9. The fund’s five-year return to then compared to the S&P 500. But Arc Innovation’s five-year annual return was 12.59% as of May 17, compared to the S&P 500’s 13.66%.
Arc Innovation has dropped 55% this year as Wood’s young, disruptive technology companies hit the skid. And that’s 73% less than its February 2021 high. Rising inflation and rising interest rates have helped keep kibbutz in technology stocks.
Still, Wood’s investors aren’t leaving him. As of the week of May 9, Arc Innovation has enjoyed a net inflow of over 1.5 1.5 billion a year, according to Bloomberg.
Morningstar’s view
Meanwhile, on March 29, Morningstar analyst Robbie Gringold issued a scathing critique of Arc Innovation.
“ARKK shows some signs of improvement in its risk management or the ability to successfully navigate the challenging areas it explores,” he wrote.
“Since its meteoric rise in 2020, the strategy has been one of the worst-performing U.S.-sold funds. ডের Wood’s reliance on its instincts to build a portfolio is a liability.”
Wood defended Gringold’s points in a recent interview with Tiffin’s Magnificent Media. “I know there are companies like that [Morningstar] That’s not what we’re doing, “he said.
“We don’t fit in their style box. And I think style boxes will be a thing of the past, because technology blurs the lines between and between sectors. “
The author of this story owns shares in Lockheed Martin.
