A couple of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made a huge purchase on Tuesday. These funds bought over 235,000 shares of Zoom Video Communications Inc. (NASDAQ: ZM) altogether, as their share prices lost about 1% in Tuesday’s session. Note that these ETFs are up handily in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 186,149 shares of Zoom Video and ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 49,541 shares. At Tuesday’s closing prices, this would have valued these purchases at roughly $6.6 million. Even though this is a small fraction of the total holdings, every little bit counts. The innovation ETF is up 33% in the past year, and the internet ETF is up 44%.
Check out all of ARK Invest’s buys for Tuesday:
|ARKK||ZM||ZOOM VIDEO COMMUNICATIONS||186,149|
|ARKW||ZM||ZOOM VIDEO COMMUNICATIONS||49,451|
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.
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