Reuters

Bets against Cathie Wood’s ARK Innovation fund at record high- S3

Short interest in star investor Cathie Wood’s flagship ARK Innovation ETF was at a record high, data from analytics firm S3 Partners showed on Wednesday, as several hedge funds disclosed this week they had bet against the top performing ETF of 2020. About 24.87 million shares – or 13.4% of the ETF’s free float – are currently shorted, making it the largest short in the ARK family of ETFs, said Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners. The family office run by “Big Short” investor Michael Burry was among a slate of hedge funds revealing bearish bets on the ETF, which is renowned for making investments based on thematic trends rather than fundamentals or valuation.

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