ARK Innovation ETF (NYSEARCA: ARKK) saw massive buying and selling action in Wednesday’s session, with many big names thrown around in the mix. While there is definitely some rebalancing going on with Cathie Wood’s largest holdings, it is interesting to see what new stocks she is making room for.
In total, this fund bought approximately $235 million worth of stock and sold roughly $237 million on Wednesday. Comparatively, the exchange-traded fund has $22.28 billion in net assets.
Excluding Thursday’s move, the fund has vastly outperformed the S&P 500 & Dow Jones industrial average with a gain of 145% in the past 52 weeks. However, it is actually down 2% year to date, lagging the major averages.
Here are a few of the major purchases in session, and note that these valuations are based on Wednesday’s closing prices:
- 4.01 million shares of Skillz Inc. (NYSE: SKLZ), valued at $67.3 million
- 1.35 million shares of UiPath Inc. (NYSE: PATH), valued at $93.1 million
- 126,173 shares of DraftKings Inc. (NASDAQ: DKNG), valued at $7.4 million
- 195,108 shares of Coinbase Global Inc. (NASDAQ: COIN), valued at $60.9 million
The major sales included the following:
- 122,015 shares of Twitter Inc. (NYSE: TWTR), valued at $8.2 million
- 163,981 shares of Tesla Inc. (NASDAQ: TSLA), valued at $122.0 million
- 170,764 shares of Square Inc. (NYSE: SQ), valued at $41.9 million
- 114,713 shares of Roku Inc. (NASDAQ: ROKU), valued at $40.9 million
Check out all of ARK Invest’s Buys and Sells for Wednesday. Also here’s a snapshot of the ARK Innovation ETF’s buys and sells:
| Direction | Ticker | Company | Shares |
|---|---|---|---|
| Buy | SKLZ | Skillz | 4,014,903 |
| Buy | PATH | UiPath | 1,348,999 |
| Buy | IRDM | Iridium Communications | 15,219 |
| Buy | DKNG | DraftKings | 126,173 |
| Buy | COIN | Coinbase Global | 195,108 |
| Buy | BLI | Berkeley Lights | 60,684 |
| Buy | BEAM | Beam Therapeutics | 37,406 |
| Sell | TWTR | 122,015 | |
| Sell | TSLA | Tesla | 163,981 |
| Sell | SQ | Square | 170,764 |
| Sell | SNPS | Synopsis | 19,690 |
| Sell | ROKU | Roku | 114,713 |
| Sell | PCAR | Paccar | 206,766 |
Note: 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.
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