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Ark Invest’s space exploration ETF ARKX begins trading

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Trading in the new space exploration ETF from Ark Invest began on Tuesday, as Cathie Wood’s firm looks to tap the growing space industry.

“Space is already an invisible backbone to our economy and we think that’s only going to become more so as [satellite] constellations launch,” Ark Invest analyst Sam Korus told CNBC’s Morgan Brennan on “Power Lunch.”

Shares of ARKX slipped about 1% in its first day of trading, with the stock closing at $20.30 a share.

ARKX’s 39 stocks includes pure-play space companies like Iridium and Virgin Galactic, as well as defense and aerospace giants such as Kratos, L3Harris, Lockheed Martin and Boeing.

But the ETF also includes names not traditionally connected to…



Source cnbc.com

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