With technology stocks tumbling recently, the cash level of ETF managed by Cathie Wood has fallen below $40 billion, but her loyal fans have largely stuck with it, according to Bloomberg.

The data show that the founders of ARK are now in charge of $39.7 billion in ETF, down from a peak of more than $60 billion in February. Her flagship.$ARK Innovation ETF (ARKK.US) $It has fallen by about 35% from its peak.

The market expects large outflows from the ARK fund due to recent poor performance, but the fund had a net outflow of just $76 million in April, just $301 million so far in May and an increase of $7.1 billion in the first quarter of this year.

"it seems that investors still believe in Cathie Wood's investment strategy and believe that the pullback may be short-term," said Mohit Bajaj, director of WallachBeth Capital ETF.

Analysts Ben Onatibia and Giacomo Pierantoni said: "at a time when ARK ETF suffered large redemptions, individual investors were actually buying on the bargain, which further highlighted the difference with institutions. "

Throughout the economic downturn, Wood repeatedly said that her investment strategy had not changed and that her investment duration was five years. Last week, she even increased her holdings.$Twitter (TWTR.US) $. 、$Roku (ROKU.US) $、$SKILLZ INC (SKLZ.US) $And$Peloton Interactive (PTON.US) $.