A respite for Cathie Wood? Short ARKK bets falling fast, cash inflow spooks shorts OR profit-taking?
$ARK Innovation ETF (ARKK.US)$ Do you think she will be able to "create glory" again as she did before?
The percentage of short ARKK has declined in recent weeks, with the number of shorts down 28% in the past month, according to IHS Markit Ltd. The fund currently has 9.2% of its shares borrowed short, which is down from a high of 17% in April.
$Tradr 2X Short Innovation Daily ETF (SARK.US)$ SARK, meanwhile, has seen outflows recently. In the most recent trading session for which data is available, investors withdrew nearly $39 million from SARK, the largest one-day outflow since January.
Wood continues to plunge into tech stocks, buying $Tesla (TSLA.US)$ , $Zoom Video Communications (ZM.US)$ , $Roku Inc (ROKU.US)$ , $Block (SQ.US)$ , $Coinbase (COIN.US)$ .As of Wednesday's trading, ARKK Innovation was down about 59% year to date. So far this year, the fund's top 10 holdings are down an average of about 55%.
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