One of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made a sizable purchase on Wednesday. The fund bought over 530,000 shares of Fate Therapeutics Inc. (NASDAQ: FATE), as the price of this ETF was down over 2% on the day. Note that this fund is up significantly in the past year.
Specifically, ARK Innovation ETF (NYSEARCA: ARKK) bought 535,305 shares of Fate Therapeutics. At Wednesday’s closing price, this would have valued this purchase at roughly $46.2 million. Even though this is a small fraction of the total holdings, every little bit counts. The fund is up 60% in the past year.
Here’s a look at the other purchases across the ARK ETFs:
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.