A couple of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge purchases on Thursday. Altogether, these funds bought nearly 450,000 shares of UiPath Inc. (NYSE: PATH), as the price of this ETF dropped less than 1% on Thursday. Note that this fund is still up handily in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 445,042 shares of UiPath. At Thursday’s closing price, this would have valued these purchases at roughly $30.4 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKK is up 55% in the past year.
Check out all of ARK Invest’s buys for Thursday:
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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., owner of 247wallst.com.