ARK Invest to launch space exploration ETF (ARKX) Tuesday

ARKX hopes to capitalize on interest in space exploration ahead of public offerings from some of the most popular private aerospace firms.

2

The idea of commercial space travel and exploration has gained lots of attention over the last few years. With big-name operations such as SpaceX celebrating successful tests and a market that is anxious to jump into the next big thing, Ark Invest will debut its newest ETF on Tuesday. The fund, known as ARKX, includes holdings from Kratos, Virgin Galactic, and Lockheed Martin.

ARKX will offer investors a way to buy into the space craze before many privately-held aerospace players will make it to public trading. As many as seven different companies are expected to become publicly traded by the end of 2021 through SPAC deals

Ark Invest was founded by financial analyst Cathie Wood in 2014 and operates the largest actively managed exchange-traded fund. ARKX will be the company’s eighth ETF offering. Its Ark Innovation ETF enjoyed monstrous success in 2020, generating a 170% return.

The ARKX ETF’s top 10 holdings by weight:

  1. Trimble - 8.3%
  2. Ark’s The 3D Printing ETF - 6.1%
  3. Kratos - 5.6%
  4. L3Harris - 5%
  5. JD.com - 4.8%
  6. Komatsu - 4.6%
  7. Lockheed Martin - 4.5%
  8. Iridium - 4.3%
  9. Thales SA - 4%
  10. Boeing - 3.6%

Cathie Wood spoke with CNBC in December, saying that investors should “get on the right side of change and stay on the right side of change because it has hit escape velocity in the aftermath of the coronavirus.” Wood, a longtime Tesla bull, has a $7,000 share price target for the company to hit by the end of 2024.

Contributing Tech Editor

Chris Jarrard likes playing games, crankin' tunes, and looking for fights on obscure online message boards. He understands that breakfast food is the only true food. Don't @ him.

From The Chatty
Hello, Meet Lola