Market News

Cathie Wood Steps Down As Portfolio Manager from Two ARK Invest Funds

In an SEC filing dated September 16, ARK Invest (ARKK) announced that Cathie Wood would step down as portfolio manager from two of ARK’s exchange-traded funds, the 3D Printing ETF (PRNT) and ARK Israel Innovative Technology ETF.

William Scherer will replace Wood as the portfolio manager for both funds.

Currently, the ARK Israel Innovative Technology ETF has $115.4 million in Assets Under Management (AUM) while ARK’s 3D Printing ETF has $196.7 million AUM.

Both the ETFs, ARK Israel and 3D Printing ETFs have lost 32% and 35.9% in value this year.

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