This is not the first time a health care ETF has been moved by even a slight weight to a biotech or medical device name that experiences a big intraday move. Last year, ETFs with small weights to Intercept Pharmaceuticals (NasdaqGS: ICPT), Puma Biotechnology (NYSE: PBYI) and Idenix Pharmaceuticals, among others, experienced notable one-day moves as various news events launched those stocks higher. [Puma Pumps up Biotech ETFs]
ARKG’s leverage to the pop in Rosetta underscore’s the ability of the fund’s manager to reach across various market cap spectrums. Rosetta currently has a market value of $53.6 million.
To be sure, ARKG is not the run-of-the-mill health care ETF as highlighted by allocations to Monsanto (NYSE: MON), Amazon (NasdaqGS: AMZN) and Qualcomm (NasdaqGS: QCOM) just to name a few companies that rarely, if ever, appear in traditional health care ETFs. [A Look at Unique Health Care, Industrial ETFs]
ARK Genomic Revolution Multi-Sector Fund
