A couple of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge purchases on Wednesday. These funds bought over 600,000 shares of DraftKings Inc. (NASDAQ: DKNG), as the price of these ETFs gained more than 1% on Wednesday. Note that these funds are still up handily in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 486,875 shares of DraftKings, while ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 117,163 shares. At Wednesday’s closing prices, this would have valued these purchases at roughly $29.5 million altogether. Even though this is a small fraction of the total holdings, every little bit counts. ARKK is up 51% in the past year and ARKW is up 51%.
Check out all of ARK Invest’s buys for Wednesday:
|ARKG||PACB||Pacific Biosciences of California||265,614|
|ARKK||PACB||Pacific Biosciences of California||101,948|
|ARKK||ZM||Zoom Video Communications||116,860|
|ARKQ||BLDE||Blade Air Mobility||20,247|
|ARKW||ZM||Zoom Video Communications||16,398|
|ARKW||KVSB||Khosla Ventures Acquisition II||12,878|
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.