The Tuttle Capital Short Innovation ETF (Nasdaq: SARK) has launched on the Nasdaq. The fund is an actively managed ETF that attempts to achieve the inverse (-1x) of the return of the ARK Innovation ETF (NYSE Arca: ARKK) for a single day, not for any other period.
The firm writes that this distinctive exposure allows investors to potentially profit from a decline in a portfolio of companies involved in disruptive industries such as electric vehicles, next-gen internet, genomics and fintech.
Tuttle Capital writes that SARK offers investors of all sizes and types convenient “one-ticker” access to a short vehicle that may otherwise be difficult to execute on their own.
“Many investors with whom we speak, including financial advisers, are cautious on current valuations for unprofitable innovative companies,” says Matthew Tuttle, Chief Executive Officer and Chief Investment Officer of Tuttle Capital Management LLC (“TCM”), who serves as the Adviser to SARK. “Whether you believe that the current bull thesis for transformational industries is stretched, or you are looking to provide protection to an existing portfolio of high-growth stocks, SARK is a potentially attractive opportunity worth exploring.”