Ark Investment Management said on Wednesday that it is permanently closing its New York office and relocating to St. Petersburg, Florida.
In 2020, Wood's flagship Ark Innovation exchange-traded fund soared over 150 percent, making her a Wall Street sensation.
Wood is unique in that she focuses solely on the technology industry. So it's probably unsurprising that she's quitting Wall Street.
Ark expects the move to "advance its business as it scales and continues to alter the asset management market," as well as "improve collaboration between and across the communities focused on innovation," according to the company.
"Ark isn't your typical Wall Street asset management firm, and we're excited to continue to break the mold by relocating to St. Petersburg, a city that values technology, research, and creativity," Wood added.
Jana Haines, Ark's strategy chief, said the area's "vibrant and diversified talent base" and the success of public-private partnerships centered on innovation encouraged the company.
This year hasn't been as good to Wood as the previous one. Despite a booming tech market, with the Nasdaq up more than 14 percent so far in 2021, the Innovation ETF is down 3.5 percent coming into the fourth quarter.