Cathie Wood’s ARK Invest Doubles Down on Buying This Biotech-Focused SPAC
On August 5, one ARK Invest fund bought nearly 2 million shares of Soaring Eagle Acquisition, a biotech-focused special purpose acquisition company. This is adding to the 4 million shares it bought on Thursday.
One ARK Invest exchange-traded fund run by ETF star Cathie Wood bought nearly 2 million shares of Soaring Eagle Acquisition Corp. (NASDAQ: SRNG) on Thursday, as the share price of this fund traded up over 1% in the day’s session. This is doubling down on the huge purchase that Wood & Co. made on Wednesday.
Previously, ARK Genomic Revolution ETF (NYSEARCA: ARKG) bought 4,144,190 shares of the special purpose acquisition firm (SPAC), valuing the purchase at roughly $41 million.
On Thursday, ARK Innovation ETF (NYSEARCA: ARKK) bought an additional 1,926,400 shares of Soaring Eagle Acquisition. At Thursday’s closing price the transaction was valued at roughly $19.2 million. This is only a small fraction of the total holdings. ARKK is up 49% over the past 52 weeks.
Here is a quick look at all the purchases made by ARK ETFs from Thursday:
| Fund | Direction | Ticker | Company | Shares |
|---|---|---|---|---|
| ARKG | Buy | SMFR | SEMA4 HOLDINGS CORP | 73,710 |
| ARKG | Buy | CRSP | CRISPR THERAPEUTICS AG | 15,000 |
| ARKG | Buy | MASS | 908 DEVICES INC | 70,000 |
| ARKG | Buy | SURF | SURFACE ONCOLOGY INC | 38,017 |
| ARKG | Buy | RPTX | REPARE THERAPEUTICS INC | 525 |
| ARKG | Buy | SGFY | SIGNIFY HEALTH INC | 21,100 |
| ARKK | Buy | EDIT | EDITAS MEDICINE INC | 25,000 |
| ARKK | Buy | SRNG | SOARING EAGLE ACQUISITION CORP | 1,926,400 |
| ARKK | Buy | PATH | UIPATH INC | 119,500 |
| ARKK | Buy | ROKU | ROKU INC | 337,688 |
| ARKQ | Buy | AVAV | AEROVIRONMENT INC | 9,618 |
| ARKQ | Buy | MKFG | MARKFORGED HOLDING CORP | 224,000 |
| ARKQ | Buy | SPFR | JAWS SPITFIRE ACQUISITION CORP | 10,336 |
| ARKW | Buy | ROKU | ROKU INC | 99,201 |
| ARKW | Buy | GENI | GENIUS SPORTS LTD | 280,214 |
| ARKX | Buy | SPFR | JAWS SPITFIRE ACQUISITION CORP | 9,900 |
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
