The investment firm’s flagship exchange-traded fund is the ARK Innovation ETF. The fund was trading at $116 per share on September 21. According to data source S3 Partners, short interest in the ETF reached a new high of 12 percent last month. Last year, the ARK Innovation ETF was one of the most profitable, returning 152 percent. In the first half of the year, short-sellers lost $38 million in market-to-market losses. They’ve now rebounded and are up to $137 million for the year so far.
Here is Insider Monkey’s list of the 10 hedge funds betting against Cathie Wood’s ARK Innovation ETF. Balyasny Asset Management has $52 million in PUT options against the ARK Innovation ETF. Between March and June of this year, the fund sold all of these options. On our list of 10 hedge funds betting against the fund, it is ranked tenth. Deer Park Road Corp is a hedge fund manager based in Colorado that offers high-net-worth clients financial services. PUT options on 2.1 million shares of ARK Innovation ETF worth $257 million, or 9.21% of the portfolio, were held by the firm. Ikarian Capital is a Texas-based hedge fund led by Neil Shahrestani. The fund owned PUT options against 119,900 shares of ARK Innovation ETF worth $11 million, representing 0.89% of the portfolio. Michael Burry is the founder and CEO of Scion Asset Management, a hedge fund based in California. The fund had over $31 million in PUT options against the ARK Innovation ETF. Discovery, Inc. is one of the fund’s top holdings. Bihua Chen is the founder and CEO of Cormorant Asset Management, a hedge fund based in Boston. At the end of June 2021, the fund had $69 million in PUT options against the ARK Innovation ETF or 2.35 percent of its portfolio. For more details, click 10 Hedge Funds That Are Betting Against Cathie Wood’s ARK Innovation ETF.