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williamtay
2022-07-20

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Cathie Wood's ARK Invest Will Liquidate Its Transparency-Themed ETF

Cathie Wood is throwing in the towel on one of her nine exchange-traded funds.ARK Invest said in a s

Cathie Wood's ARK Invest Will Liquidate Its Transparency-Themed ETF

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·2022-07-20
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The move marks ARK’s first-ever fund closure.</p><p>The decision from ARK came after the firm learned Transparency Global would stop calculating The Transparency Index — the index this ETF sought to track — at the end of this month.</p><p>ARK said it failed to find a suitable replacement from other providers.</p><p>The fund&#39;s board of trustees unanimously approved the winding down and termination of the fund at a meeting earlier this month, per a filing with the SEC.</p><p>The <a href=\"https://laohu8.com/S/CTRU\">ARK Transparency ETF</a> is set to cease trading on the Cboe BZX Exchange July 26th. Shareholders may request a redemption of their allocation prior to the closing date.</p><p>The closure comes amid a rout across her nine exchange-traded funds — particularly the flagship ARK Innovation (ARKK) vehicle, which has lost more than 50% year-to-date.</p><p>Wood’s transparency-focused fund, which began trading December 8, 2021, was down 33% year-to-date as of Tuesday’s close. The fund was created to targeting 100 companies it defines as &#34;most transparent,&#34; particularly in the information offered to investors on performance and return potential. ARK Transparency also aimed to avoid companies connected to fossil fuels, tobacco and alcohol.</p><p>Among notable names in its top holdings are Teladoc (TDOC), Netflix (NFLX), <a href=\"https://laohu8.com/S/DOCU\">Docusign</a> (DOCU).</p><p>At the time of its launch, analysts deemed the ETF ARK&#39;s version of an ESG offering.</p><p>“It’s intriguing because it doesn’t have a moralizing vibe to it, it’s like they’re saying if you go after transparency, you’re probably going to buy good companies,” Bloomberg Intelligence Senior ETF Analyst Eric Balchunas said.</p><p>The closure of ARK Transparency comes as its parent firm sets out to launch a private markets-focused closed-ended interval fund, with an SEC filing specifying the vehicle will be suitable “only for long-term investors who can bear the risks” associated with limited liquidity.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood's ARK Invest Will Liquidate Its Transparency-Themed ETF</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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The move marks ARK’s first-ever fund closure.The decision from ARK came after the firm learned Transparency Global would stop calculating The Transparency Index — the index this ETF sought to track — at the end of this month.ARK said it failed to find a suitable replacement from other providers.The fund's board of trustees unanimously approved the winding down and termination of the fund at a meeting earlier this month, per a filing with the SEC.The ARK Transparency ETF is set to cease trading on the Cboe BZX Exchange July 26th. Shareholders may request a redemption of their allocation prior to the closing date.The closure comes amid a rout across her nine exchange-traded funds — particularly the flagship ARK Innovation (ARKK) vehicle, which has lost more than 50% year-to-date.Wood’s transparency-focused fund, which began trading December 8, 2021, was down 33% year-to-date as of Tuesday’s close. 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