Cathie Wood's Ark Invest posts 6% weekly gain amid turnaround in innovation names

Cathie Wood
Source: CNBC

Cathie Wood's Ark Invest funds, which slid while investors flocked to value stocks earlier this year, staged a comeback last week in what could be a turning point for the innovation fund.

Ark Invest's flagship ETF — ARK Innovation — notched a 6% gain last week, as investors shrugged off inflation fears and interest rates continued to come down (the 10-year Treasury was below 1.43% on Friday, a three-month low). The innovation fund is up 16.7% over the last month, which could mark a critical moment for the battered ETF.

More In Follow the Pros

CNBC ProThese are the stocks Cathie Wood bought during Monday’s rout
CNBC ProInvestor Sarat Sethi is looking for opportunity amid the market slide. Here’s his buy list
CNBC ProThe generational theory espoused by Tom Lee and Cathie Wood that could drive the bull market