A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood bought over 350,000 shares of Robinhood Markets Inc. (NASDAQ: HOOD) altogether on Thursday, as the prices of these ETFs were up less than 1% in Thursday’s session. These funds are up a fair amount in the past year.
ARK Fintech Innovation ETF (NYSEARCA: ARKF) bought 325,289 shares of Robinhood, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) added 25,322 shares. At Thursday’s closing price, this would have valued these purchases at roughly $14.7 million altogether. This is only a small fraction of the total holdings. The fintech ETF is up roughly 37% in the past year, and the internet ETF is up 44% in that time.
Check out all of ARK Invest’s buys for Thursday:
|ARKX||BLDE||BLADE AIR MOBILITY||4,102|
|ARKX||KTOS||KRATOS DEFENSE & SECURITY SOLUTIONS||81,952|
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.