Cathie Wood’s ARK Innovation turns positive for the year as growth stocks surge
Crystal Mercedes | CNBC
After a tumultuous first half of 2021, Cathie Wood’s flagship fund — ARK Innovation — just went positive for the year as investors begin to give growth names a nod.
The largest actively managed ETF rose about 1.5% on Thursday, bringing its year-to-date gain to just shy of 1%. The innovation fund has rallied more than 5% this week and over 12% this month.
Since bottoming on May 13 — a day after the hottest inflation reading since 2008 — the fund is up about 25%.