Benzinga | Sep 1, 2021 05:47AM EDT

Cathie Wood's Ark Looks To Launch New ETF Centered On 'Transparency,' Featuring Tesla, Apple

Cathie Wood's investment management firm Ark Invest is preparing to debut a new exchange-traded fund focused on transparency, a filing with the U.S. Securities and Exchange Commission revealed.

What Happened: Ark's Transparency ETF will largely have exposure in tech and consumer firms such as Salesforce.com Inc (NYSE:CRM), Tesla Inc (NASDAQ:TSLA), Apple Inc (NASDAQ:AAPL), and Nike Inc (NYSE:NKE) among others, as per Bloomberg.

If approved, the ETF would join Ark's six active traded funds and would be the second such launch this year after ARK Space Exploration & Innovation ETF (BATS:ARKX).

Ark Invest had in March launched ARKX, a fund focused on space-related investments and was then its first ETF launch in nearly two years.

Why It Matters: A Tesla bull, Wood has in the past openly shown support for transparency in her funds and reveals her stock pickings on a daily basis. She has also been revealing her liking towards stocks that focus on environment, social and governance standards.

Ark manages assets worth over $53.74 billion as of the second quarter this year, regulatory filings show.

Price Action: Ark's flagship fund the Ark Innovation ETF (NYSE:ARKK) closed 0.62% lower at $122.03 on Tuesday