Despite starting the week with flashes of green, High-Tech ETFs lost steam mid-week, marking another blow for beleaguered investors who continue to see sectors such as Digital Infrastructure, Biotech, and Disruptive Technology among the worst-performing sectors so far in 2022.
The actively managed TrueShares Technology, AI and Deep learning ETF (LRNZ) popped by 10% in the first two days of the week before losing 7% over the past couple of days. Similarly, the actively managed Esoterica NextG Economy ETF (WUGI) which focuses on companies involved in 5G technologies, started off hot with a green hat trick (+9% cumulative) then dropped by -4.53% on Thursday. Direxion Moonshot Innovators ETF (MOON) trip "to the moon" fell short after its early week gains were wiped out in the last 48 hours.
Meanwhile, the flow bleeding lingers on as investors profit-take in volatile and choppy markets. ETFs tracking the Disruptive Technology theme saw a collective sell-off that pulled $112 million of assets out this week and ETFs tracking the Digital Infrastructure theme following close behind with $104 million of outflows.
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