Cathie Wood's ARK Invest, a big investment company, is closing one of its funds called PMNT. This fund invested in companies that help with digital payments, like using your phone to pay for things. It didn't have much money, only $5.6 million! ARK Invest wants to focus on other funds that they think will do better.
- PMNT fund is closing because it didn't have enough money.
- ARK Invest will focus on its other funds which have more money.
- They plan to start some new funds in 2025.
| Fact | Number |
|---|---|
| PMNT fund's money | $5.6 million |
| Total money in ARK's other funds | $110 million+ |
| Year for new fund launches | 2025 |
