Short ARKK ETF To Bet Against Cathie Wood's Fund

According to Bloomberg, the Short ARKK ETF would track the inverse performance of Cathie Wood’s $23 billion Ark Innovation ETF ARKK through swaps.
As per the Securities and Exchange Commission filing, the fund would trade under the ticker SARK and charge a 0.75% operating expense.
Post-launch, the SARK would be managed by Matt Tuttle, chief executive officer at Tuttle Capital Management LLC.
“In sum, as ARKK already represents a long exposure to a basket of unprofitable tech stocks, we thought that investors should have access to the short side as well,” Bloomberg quoted Tuttle’s email saying.
Cathie Wood’s ARKK was one of the best-performing ETFs last year, with a 149% return.
“Active ETFs are doing better than they have in the past, but passive is still king. A lot of that active flow in the big months from late 2020 to early 2021 is to Cathie’s funds,” says James Seyffart, an ETF analyst for Bloomberg Intelligence.
According to data from IHS Markit Ltd., short interest in the fund is currently 4.6% of shares outstanding, down from a record 5.3% in March.