ARKK (ARK Innovation ETF), the world’s largest actively-managed ETF, experienced record outflows and volumes on February 23 as its top holding – Tesla fell as much as 12.95% in the first minutes of trading, before rallying to close at -2.19%. In total, as much as $4.28B worth of ARKK was traded on February 23 as investors withdrew $465M from the fund.
Source: TrackInsight https://www.trackinsight.com/en/fund/ARKK
Year-to-date ARKK is up +11.61% and received more than $6B inflows.
Despite the sell-off, ARKK added more than 180k shares of Tesla during the day, according to Bloomberg data.
ARK Investments CEO Cathie Wood has been a vocal enthusiast of the disruptive EV car maker. The total ownership of TESLA by ARK investment through their three ETFS, ARK Autonomous Technology & Robotics ETF, ARKQ, ARK Innovation Fund ARKK and the ARK Next Generation Internet ETF ARKW is $2.9B or 0.43% of TESLA market cap.