Michael Burry, the investor made famous by The Big Short movie, has taken out a major short position against Cathie Woods’ ARK Innovation ETF
According to second-quarter 13f filings, Burry’s hedge fund Scion Asset Management has purchased $31 million worth of bearish put options against 235,000 shares of the ETF. Put options are a way of profiting from the decline in value of a stock or fund.