Cathie Wood’s fintech ETF sells HDFC Bank for first time since May

Cathie Wood’s fintech fund has offered a stake in HDFC Bank Ltd, India’s largest by market worth, for the first time in almost 4 months. The transfer comes at a time when the lender’s principal stock itemizing is lower than 3% away from a document excessive.

Wood’s Ark Fintech Innovation ETF (ARKF) offered 127,637 American depository receipts of the lender on Thursday for the first time since May 6, in keeping with Ark Investment Management’s every day buying and selling information compiled by Bloomberg. It now maintain ADRs price $19 million, Ark’s web site exhibits.

HDFC Bank ranks among the many world’s most priciest mega banks, buying and selling at a 12-month ahead price-to-book worth ratio of three.5 occasions, in keeping with information compiled by Bloomberg.

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First Published: Fri, September 03 2021. 13:38 IST

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