Cathie Wood’s ARK Invest Buys Over 7 Million Shares of This Biotech-Focused SPAC
On August 9, a couple of Cathie Wood's ARK Invest funds bought over 7 million shares of Soaring Eagle Acquisition, a biotech-focused special purpose acquisition company.
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A couple ARK Invest exchange-traded funds run by ETF star Cathie Wood bought over 7 million shares of Soaring Eagle Acquisition Corp. (NASDAQ: SRNG) on Monday, as the share price of these exchange-traded funds were up around 1% in the day’s session. Their share prices have greatly improved over the past year.
Specifically, ARK Genomic Revolution ETF (NYSEARCA: ARKG) bought 4,512,926 shares of the special purpose acquisition company (SPAC), and ARK Innovation ETF (NYSEARCA: ARKK) bought 2,506,461 shares. At Monday’s closing prices, this would have valued this purchase at roughly $70.2 million. This is only a small fraction of the total holdings. ARKG is up 57% over the past 52 weeks and ARKK is up 54%.
Here is a quick look at all the purchases made by ARK ETFs:
| Fund | Ticker | Company | Shares |
|---|---|---|---|
| ARKG | ADPT | Adaptive Biotechnologies | 232,610 |
| ARKG | SRNG | Soaring Eagle Acquisition | 4,512,926 |
| ARKG | SGFY | Signify Health | 30,490 |
| ARKK | Z | Zillow | 101,994 |
| ARKK | TSP | TuSimple | 316,814 |
| ARKK | SRNG | Soaring Eagle Acquisition | 2,506,461 |
| ARKQ | MKFG | Markforged | 57,406 |
| ARKQ | PATH | UiPath | 8,178 |
| ARKW | LPSN | LivePerson | 22,696 |
| ARKW | Z | Zillow | 24,750 |
| ARKW | PATH | UiPath | 8,641 |
| ARKX | BLDE | Blade Air Mobility | 16,370 |
| ARKX | KTOS | Kratos Defense & Security Solutions | 49,634 |
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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.
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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.
