Cathie Wood’s Flagship Fund Suffers Biggest Outflow on Record

(Bloomberg) -- Investors have pulled the most cash ever from Cathie Wood’s flagship exchange-traded fund amid the selloff in U.S. tech shares.

The ARK Innovation ETF (ticker ARKK) saw $465 million exit the fund in the latest trading session for which flow figures are available, according to data compiled by Bloomberg. That’s more than treble the previous record outflow.

ARKK posted its worst two-day performance since September amid a slump in technology companies including its largest holding, Tesla Inc. The decline and outflows have cut assets in the fund by about $3 billion from the end of last week to $25.2 billion, the data show.

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