Cathie Wood’s ARKK nears multi-month lows as investors retract $500M since its 2023 peak
Marco Bello/Getty Images News
As the tech-heavy Nasdaq Composite (COMP.IND) edged lower on Friday, Cathie Wood's flagship ARK Innovation ETF (NYSEARCA:ARKK) slipped as well, threatening to break to a five-month low.
On Friday, ARKK was lower by 1.9%, falling to a low on the day of $37.68. This was within striking distance of the $37.55 reached on October 4, which represented its lowest mark since mid-May. 
ARKK remains higher by 18.6% in 2023. However, the innovation-focused ETF has given back a large portion of its gains over the past couple of months. At one point, ARKK was +61.2% on the year, when it hit a 2023 trading high of $51.33 back on July 19.
Since that date, Wood's flagship exchange traded fund has dropped by 26.6%. This represents a notably sharper decline than the Nasdaq Composite, which has slumped 6.9% over the same timeframe.
Meanwhile, ARKK has seen investors withdraw roughly $536M since the July 19 highpoint.
These moves were also mostly seen across the fund's top five holdings which included shares of Tesla (TSLA), Zoom Video Communications (ZM), Roku (ROKU), Coinbase Global (COIN), and UiPath (PATH). See below the price action:

TSLA +133.1% YTD and -15.9% Since July 19 peak.
ZM -6.7% YTD and -17.2% Since July 19 peak.
ROKU +61.2% YTD and -17.4% Since July 19 peak.
COIN +115.9% YTD and -35.1% Since July 19 peak.
PATH +26.9% YTD and -18.2% Since July 19 peak.

Moreover, see the year to date moves of Woodâs other actively managed ETFs as they are also in the green on the year except (ARKG). However, they have also dropped since July 19. See below the price action:

ARK Next Generation Internet ETF (ARKW) +39.9% YTD and -22.6% Since July 19 peak.
ARK Autonomous Technology & Robotics ETF (ARKQ) +26.7% YTD and -13.9% Since July 19 peak.
ARK Genomic Revolution ETF (ARKG) -8.8% YTD and -35.5% Since July 19 peak.
ARK Fintech Innovation ETF (ARKF) +32.5% YTD and -22.3% Since July 19 peak.
ARK Space Exploration & Innovation ETF (ARKX) +9.3% YTD and -13.4% Since July 19 peak.


More on Markets

Nasdaq, S&P, Dow mixed as weak consumer sentiment, oil surge outweighs bank results
Dividend Roundup: Procter & Gamble, Raytheon, Caterpillar, Colgate-Palmolive, and more
Investors were sellers of fund assets for the third week in four
Risk of oil-price surge from Israel-Hamas war is 'a sort of tail event' - TD Asset Management