Cathie Wood’s ARK Invest Buys Over 850,000 Shares of DraftKings
A couple of Cathie Wood's Ark Invest funds bought over 850,000 shares of DraftKings on June 15.
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A couple of the ARK exchange-traded funds run by ETF star Cathie Wood made huge purchases on Tuesday. These funds bought over 850,000 shares of DraftKings Inc. (NASDAQ: DKNG | DKNG Price Prediction), as the price of these ETFs lost more than 2% on Tuesday. Note that these funds are still up handily in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 688,702 shares of DraftKings, while ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 181,597 shares. At Tuesday’s closing prices, this would have valued these purchases at roughly $42.2 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKK is up 81% in the past year and ARKW is up 79%.
Check out all of ARK Invest’s buys for Tuesday:
| Fund | Ticker | Company | Shares |
|---|---|---|---|
| ARKF | JD | JD.COM INC | 54,700 |
| ARKF | KSPILI | KASPI.KZ JSC | 4,393 |
| ARKG | VRTX | VERTEX PHARMACEUTICALS INC | 68,784 |
| ARKG | SEER | SEER INC | 15,080 |
| ARKG | RPTX | REPARE THERAPEUTICS INC | 88,603 |
| ARKG | CMIIU | CM LIFE SCIENCES II INC | 46,182 |
| ARKK | DKNG | DRAFTKINGS INC | 688,702 |
| ARKK | PATH | UIPATH INC | 323,586 |
| ARKQ | IRDM | IRIDIUM COMMUNICATIONS INC | 50,000 |
| ARKQ | KTOS | KRATOS DEFENSE & SECURITY SOLUTIONS INC | 62,458 |
| ARKQ | PATH | UIPATH INC | 61,610 |
| ARKW | DKNG | DRAFTKINGS INC | 181,597 |
| ARKX | BLDE | BLADE AIR MOBILITY INC | 142,411 |
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Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.
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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.
