Cathie Wood’s flagship fund has posted its longest streak of inflows in over a year as it fights back from an interest rate hike-fueled decline.
Investors have poured money into the $9.5 billion Ark Innovation ETF (ticker ARKK) for eight straight days, with the amount totaling $639 million, according to data compiled by Bloomberg. The last time there was that long a span of cash pouring in was in March 2021, about a month after the fund peaked.
While the cash intake trails the $1.4 billion the fund lured in its prior inflow streak of this length, the influx of money signals investors’ conviction in Wood. The exchange-traded fund has risen 14% in the last two weeks, but is still down more than 70% since its peak as it comes under pressure from red-hot inflation and Federal Reserve rate hikes.
