Star fund manager Cathie Wood’s flagship fund is getting hit this week and seeing big investor outflows amid a sell-off.
Shares of Ark Innovation dropped about 3% on Thursday, bringing its weekly losses to more than 10%. The “disruptive innovation” ETF bounced off its February low of the year earlier in the session, a level that many investors are watching as a barometer for the larger tech sector.
Nearly $770 million has left Ark Innovation in the last week. Ark Invest — including its five core ETFs — has lost about $1.1 billion in investor dollars in the past seven days, according to FactSet.
Ark Innovation is more than 32% off its high in February of 2021 after which the ETF spiraled…