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), 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:
|ARKG||VRTX||VERTEX PHARMACEUTICALS INC||68,784|
|ARKG||RPTX||REPARE THERAPEUTICS INC||88,603|
|ARKG||CMIIU||CM LIFE SCIENCES II INC||46,182|
|ARKQ||IRDM||IRIDIUM COMMUNICATIONS INC||50,000|
|ARKQ||KTOS||KRATOS DEFENSE & SECURITY SOLUTIONS INC||62,458|
|ARKX||BLDE||BLADE AIR MOBILITY INC||142,411|
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.