One ARK exchange-traded fund run by ETF star Cathie Wood bought over 5 million shares of Skillz Inc. (NYSE: SKLZ) shares on Wednesday, as the prices of these ETFs traded up around 2% in Wednesday’s session. The ETF is up well over 100% in the last year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 4,014,903 shares of Skillz and ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 1,056,186 shares as well. At Wednesday’s closing price this would have valued this purchase at roughly $85 million. This is only a small fraction of the total holdings. ARKK is up 145%, and ARKW is up 156% over the past 52 weeks.
24/7 Wall St. last reported on Skillz:
Skillz Inc. (NYSE: SKLZ) develops and operates an e-sports platform to host and connect mobile games and mobile e-sports tournaments both in the United States and internationally.
Since completing a reverse merger in mid-December, shares have added about 3.4% to post a high of $24.69. Since the merger with a blank check company was announced in early September, the stock has more than doubled. Shares currently trade around $23.20 and there are no analyst forecasts on the stock yet.
Catherine Wood, the CEO and CIO of ARK Investment Management LLC is a minority and non-voting shareholder of 24/7 Wall St., LLC, owner of 247wallst.com.
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
