Cathie Wood’s ARKK falls below 200-day moving average for the first time in 5 months

seekingalpha04-16

Cathie Wood’s flagship ARK Innovation ETF (NYSEARCA:ARKK) suffered another bearish signal on Monday, as the exchange traded fund dipped below its 200-day moving average for the first time since Nov. ...

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ARKK now trades in negative territory over a 5-year timespan and only eight of the 30 holdings in the ETF are currently higher on the year. Meanwhile, investors are also pulling funds from innovation-focused ETF, as market participants in 2024 have retracted $1.4B from ARKK. ARKK’s selloff on Monday now has the fund trading at its lowest point since Feb. 6. Moreover, ARKK trades at $45.31 a share and if the ETF breaks below $44.63 (just a 1.5% downward move away), the ETF will then be sitting at lows not observed since late November of 2023. ARRK has traded for the better part of two years between $34 and $54. It is now lower by 71.6% from its record high of $159.70 per share, which was reached in February of 2021. Additionally, ARKK is not the only actively managed fund by Wood that hovers below its 200-day moving average. ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Genomic Revolution ETF (ARKG) and ARK Space Exploration & Innovation ETF (ARKX) each sit below the key technical level as well. While not below the 200-day moving average, Wood's other ETFs, ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF), do trade below their 50-day moving averages. Year-to-date ARK Invest ETF price action:  ARKK -13.5% YTD. ARKW +2.1% YTD. ARKQ -9.8% YTD. ARKG -23.2% YTD. ARKF +1.7% YTD. ARKXX -6.9% YTD.    More on ARK Innovation ETF  The ARK Innovation ETF: A Second Lease On Life (Upgrade) ARKK: Ready For Liftoff But Patience Is Required ARK Innovation ETF: A Systematic Review [Upgrade] Space economy receives $6.5B investment in Q1: Space Capital Cathie Wood says she invests for a ‘5-year horizon' ... but ARKK has lost ground over that time","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2427562882"}