A couple of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge purchases on Tuesday. Altogether, these funds bought over 850,000 shares of UiPath Inc. (NYSE: PATH) on Tuesday, as the price of these ETFs gained less than 1% on Tuesday. Note that these funds are still up handily in the last year.
ARK Genomic Revolution ETF (NYSEARCA: ARKG) bought 291,229 shares of UiPath, and ARK Innovation ETF (NYSEARCA: ARKK) bought 566,900 shares. At Tuesday’s closing price, this would have valued these purchases at roughly $59.1 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKG is up 84% in the past year and ARKK is up 92%.
Check out all of ARK Invest’s buys for Tuesday:
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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.