The timing of the purchase seems counterintuitive, since the price of said stock has increased 47% in the last 12 months. It reached US$185.75 on Friday, in line with Ámbito’s estimate.
It reached a record close of $189.50 on May 9.
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It is always a mystery to know which renowned stock is going to appear on the famous investor’s trading list. Cathie Wood, head of Ark Investment Management. During the first week of June, the guru He bought a major tech stock he rarely touches, and added to a position in another.
Wood rose to fame after a stupendous comeback of 153% in 2020 and clear presentations of its investment philosophy in numerous media appearances. But its long-term performance is less impressive. Wood’s flagship Ark Innovation ETF (ARKK), with $6.4 billion in assets, produced annualized returns of 4.9% over the trailing 12 months, -25.58% over the trailing three years, and 1.9%. positive for five years.
Cathie Wood .jpg
That is unfortunate when compared to the S&P 500. The index recorded positive annualized returns of 26.85% for one year, 9.86% for three years and 15.37% for five years. Ark Innovation’s numbers are also well below Wood’s goal of annual returns of at least 15% over five-year periods.
Cathie Wood’s recent operations
On June 6, the Ark Next Generation Internet ETF (ARKW) created a position in the retail/tech giant Amazon (AMZN). The fund acquired 53,368 shares valued at US$9.9 million at the close of that day.
The timing of the purchase seems a bit strange, since the price of said share increased 47% in the last 12 months to US$185.75 on Friday, in line with Ámbito’s estimate. It reached a record close of $189.50 on May 9.
Source: Ambito
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