DAILY DOSE: December 14, 2020
Posted on 12/14/2020
1. Cathie Wood’s ARK Innovation ETF (ARKK) saw a record inflow of US $275 million on Thursday. The ETF has just under US$ 16 billion in total assets. This ETF is surpassing the US$ 15.2 billion JPMorgan Ultra-Short Income ETF (JPST). The ARK Innovation ETF has a large allocation to Tesla Inc. In an unwelcomed move for Cathie Wood, Resolute Investment Managers is also exercising an option to take control of Ark.
2. A hacker group supported by a foreign government stole information from the U.S. Treasury Department and a U.S. agency responsible for deciding policy around the internet and telecommunications, according to various U.S. media sources. Reuters reports it was from Russian sources.
3. Germany will enter a hard COVID-19 lockdown from Wednesday, with non-essential stores shuttered. Germany will have a ban on gatherings over the New Year and will last until at least January 10, 2021.
4. Elliott Management bought a significant stake in Public Storage.
5. Singapore-flagged vessel Tanker BW Rhine was hit by an explosion at the Saudi Arabian port of Jeddah (12:40 a.m. local time on Monday), as attacks in the Red Sea mount. Tanker BW Rhine carries refined products.
6. Eswatini (formerly Swaziland), officially the Kingdom of Eswatini, lost its prime minister. Eswatini Prime Minister Ambrose Dlamini has died at 52, the government said.
7. The Cliff House restaurant in San Francisco, which first opened 157 years ago, announced Sunday that the restaurant will close permanently on December 31, 2020. The reasons include the COVID-19 lockdowns and delays by the U.S. National Park Service in reaching a long-term operating contract with the restaurant. Dan and Mary Hountalas are long-time owners of the restaurant. More than 180 employees will lose their jobs.