A new exchange-traded fund offers the opportunity to bet against one of the top stock pickers of the last five years, Cathie Wood.
What Happened: The Tuttle Capital Short Innovation ETF (NASDAQ:SARK) opened for trading Tuesday. The ETF is an actively managed ETF that attempts to achieve the inverse of the return of the ARK Innovation ETF (NYSE:ARKK) for a single day.
“This distinctive exposure allows investors to potentially profit from a decline in a portfolio of companies involved in disruptive industries such as electric vehicles, next-gen internet, genomics and fintech,” the press release says.
The Ark Innovation ETF holds positions in 44 stocks. The top holdings in the ETF are Tesla Inc (NASDAQ:TSLA), Teladoc Health (NASDAQ:TDOC), Coinbase Global (NASDAQ:COIN), Unity Software (NYSE:U), Roku Inc (NASDAQ:ROKU) and Zoom Video Communications (NASDAQ:ZM).