A couple of ARK Invest funds run by ETF star Cathie Wood made a huge buy on Wednesday. Specifically, these exchange-traded funds bought roughly $65 million worth of CRISPR Therapeutics AG (NASDAQ: CRSP), as the prices of these funds were fairly positive on Wednesday. Note that their performance is mixed in the past year.
ARK Genomic Revolution ETF (NYSEARCA: ARKG) bought 150,210 shares of CRISPR, and ARK Innovation ETF (NYSEARCA: ARKK) bought 527,747 shares. At Wednesday’s closing prices, this would have valued the sales at roughly $65.6 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. The innovation ETF is up about 10% and the other is down 1% in the past year.
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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., owner of 247wallst.com.