Cathie Wood’s ARKK Lures Biggest Inflow Since 2021 Glory Days

$ARK Innovation ETF(ARKK.US)$ attracted $397 million of inflows on Friday, according to overnight data compiled by Bloomberg. That was the largest influx since April 2021 — a few weeks after the fund hit its all-time high in a year that saw investors pour in a whopping $9.6 billion in total.
The inflow came in the grip of the US banking turmoil that saw several lenders collapse, triggering a wider market panic. In a miserable week for equities, ARKK dropped 11% for its worst performance since September.
However the turbulence came with a potential upside for Wood and her firm ARK Investment Management: bond yields plunged dramatically, while expectations for further Federal Reserve interest rate hikes collapsed.
That’s positive for ARK because it generally bets on speculative tech stocks that are highly sensitive to rates. ARKK has now declined about 77% from its February 2021 peak as the cost of borrowing has surged.