Cathie Wood’s ARK Innovation ETF soars — but its shares are still down in 2024

Cathie Wood’s ARK Innovation ETF, an exchange-traded fund that seeks to buy stocks that benefit from disruptive innovation, was surging Wednesday but remained down for the year, according to FactSet data, at last check.

Shares of the ARK Innovation ETF, which is managed by ARK Investment Management founder Wood, were up almost 8% in late-afternoon trading. But that big leap higher wasn’t enough for the fund’s shares to erase all their losses so far in 2024, as they were still down 0.7% year to date, FactSet data showed, at last check.