A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood bought nearly 500,000 shares of autonomous vehicle maker TuSimple Holdings Inc. (NASDAQ: TSP) on Friday, as the share price of these funds traded down less than 1% in the day’s session. The fund’s share price has improved greatly over the past year.
Specifically, ARK Innovation ETF (NYSEARCA: ARKK) bought 321,657 shares of TuSimple and ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) bought 160,163 shares. At Friday’s closing price, this would have valued this purchase at roughly $16.3 million. This is only a small fraction of the total holdings. The former fund is up 47% over the past 52 weeks and the latter is 51% higher.
Here is a quick look at all the purchases made by ARK ETFs:
|ARKK||SRNG||Soaring Eagle Acquisition||1,309,155|
|ARKQ||SPFR||Jaws Spitfire Acquisition||11,500|
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.