ark invest founder cathie wood’s flagship ark innovation etfarca arkk has seen a significant decline over the last week dropping back to a level last seen in mid2020 the fund is currently down by more than 15 the holdings of the ark innovation etf are down more than 50 from their recent highs including spotify technology sa nyse spot block inc nyse sq zoom video communications inc nasdaq zm and roku inc nasdaq roku shares of technology and biotech firms are down significantly which are the companies ark favors wood’s etfs are at the center of the stockmarket selloff that has pushed the sp 500 down 7 and the nasdaq composite off by 12 also read cathie woods ark innovation etf hits new 52week low here are the top 5 holdings in the flagship fund but it seems wood is positive about the stock rebound in a blog post she said “after correcting for nearly 11 months innovation stocks seem to have entered deep value territory their valuations a fraction of peak levels” renato leggi a client portfolio manager at ark said that some investors have started to agree with wood’s assessment over the last week and are buying shares according to factset over the last week investors have put about 168 million into the fund raising its net assets to 118 billion although investors have also pulled a net 14 billion from ark funds over the last month the most redemptions of any us etf issuer ark funds have experienced more than 8 billion in net outflows over the last six months more than any other etf managers over the same period also read cathie woods ark invest defies analysts and bulks up on robinhood shares