Cathie Wood’s ARK Invest Buys Over 700,000 Shares of DraftKings
A couple of Cathie Wood's Ark Invest funds bought over 700,000 shares of DraftKings on May 18.
A couple of the ARK exchange-traded funds run by ETF star Cathie Wood made huge purchases on Tuesday. Accordingly these funds bought over 700,000 shares of DraftKings Inc. (NASDAQ: DKNG | DKNG Price Prediction) shares on Tuesday, as the price of these ETFs gained more than 1% on Tuesday. Note that these ETFs are still up handily in the last year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 679,736 shares of DraftKings, while ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 28,314 shares. At Tuesday’s closing price this would have valued this purchase at roughly $31.3 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKK is up 78% in the last year, and ARKW is up 81%.
Check out all of ARK Invest’s buys for Monday:
| Fund | Direction | Ticker | Company | Shares |
|---|---|---|---|---|
| ARKF | Buy | STNE | STONECO LTD | 174,419 |
| ARKF | Buy | KSPILI | KASPI.KZ JSC | 1,603 |
| ARKF | Buy | SQ | SQUARE INC | 18,714 |
| ARKG | Buy | SGFY | SIGNIFY HEALTH INC | 27,803 |
| ARKG | Buy | RXRX | RECURSION PHARMACEUTICALS INC | 10,440 |
| ARKG | Buy | ONEM | 1LIFE HEALTHCARE INC | 28,461 |
| ARKG | Buy | MASS | 908 DEVICES INC | 25,427 |
| ARKG | Buy | CDXS | CODEXIS INC | 3,210 |
| ARKK | Buy | TSLA | TESLA INC | 43,370 |
| ARKK | Buy | PACB | PACIFIC BIOSCIENCES OF CALIFORNIA INC | 2,124 |
| ARKK | Buy | DKNG | DRAFTKINGS INC | 679,736 |
| ARKK | Buy | CRSP | CRISPR THERAPEUTICS AG | 2,131 |
| ARKK | Buy | COIN | COINBASE GLOBAL INC | 118,214 |
| ARKK | Buy | BEAM | BEAM THERAPEUTICS INC | 200 |
| ARKQ | Buy | ACIC | ATLAS CREST INVESTMENT CORP | 352,406 |
| ARKQ | Buy | TSLA | TESLA INC | 3,661 |
| ARKQ | Buy | NIU | NIU TECHNOLOGIES | 300 |
| ARKQ | Buy | PATH | UIPATH INC | 3,526 |
| ARKW | Buy | TWLO | TWILIO INC | 19,584 |
| ARKW | Buy | COIN | COINBASE GLOBAL INC | 42,248 |
| ARKW | Buy | DKNG | DRAFTKINGS INC | 28,314 |
| ARKX | Buy | BLDE | BLADE AIR MOBILITY INC | 181,896 |
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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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
