Cathie Wood is closing her first ARK exchange-traded fund ever

It's the first time Ark Investment Management has pulled the plug on an exchange traded fund.

According to a regulatory filing, the firm is shutting down its ARK transparency exchange traded fund. The fund wanted to invest in companies that got high scores for transparency.

The index will no longer be calculated at the end of July, according to Ark.

According to the release, Ark did not find a suitable solution and closed the fund.

The fund has $12 million in assets, which is less than Wood's flagship fund. It was a rare passive vehicle from Ark, whose active offerings boomed in popularity, with Wood hand-picking stocks that she saw as shaping the future of finance, healthcare and other industries

From the beginning, it seemed like an odd fit for him. Ark focused on active management and innovation. The ARK transparency exchange traded fund was not in agreement with that approach.

The price of the transparency fund has plummeted. The filing shows that it won't accept redemption orders after July 26.

Growth strategies have been hard for investors to invest in. The Federal Reserve has raised interest rates and there are fears of a recession. Almost half of Ark's assets have been lost.