Cathie Wood-led ARK Investment Management’s newest fund, the ARK Space Exploration & Innovation ETF (BATS: ARKX) will begin trading on Tuesday, according to a notification from CBOE Global Markets.
What Happened: This will be Cathie Wood and ARK’s first ETF launch in nearly two years. In January, the hedge fund filed an offering for the Ark Space Exploration ETF to be listed under the symbol “ARKX.”
The ETF will invest 80% in stocks that are engaged in the investment theme of space exploration and innovation, as per the earlier filing.
Ark defines space exploration as “leading, enabling or benefitting from technologically enabled products and/or services that occur beyond the surface of the Earth.”
The fund is grouping space exploration into four categories — orbital aerospace companies, suborbital aerospace companies, those enabling technologies companies, and aerospace beneficiary companies.
Why It Matters: Among the names that could be included in the new Space ETF from Cathie Wood are large caps like Boeing Company (NYSE: BA) and Lockheed Martin Corporation (NYSE: LMT). The ETF could also include smaller names like Virgin Galactic Holdings (NYSE: SPCE).
Ark joined the list of top ten ETF companies with $41.5 billion in assets compared to $3.5 billion a year ago this year, as reported by Bloomberg.
Ark’s active ETFs include ARK Fintech Innovation ETF (NYSE: ARKF), ARK Genomic Revolution ETF (NYSE: ARKG), ARK Innovation ETF (NYSE: ARKK), ARK Autonomous Technology & Robotics ETF (NYSE: ARKQ) and ARK Next Generation Internet ETF (NYSE: ARKW).
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