A couple of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made a huge purchase on Wednesday. These funds bought over 225,000 shares of Zoom Video Communications Inc. (NASDAQ: ZM) altogether, as their share prices gained about 1% in Wednesday’s session. Note that these ETFs are up handily in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 195,009 shares of Zoom Video and ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 31,368 shares. At Wednesday’s closing prices, this would have valued these purchases at roughly $64.7 million. Even though this is a small fraction of the total holdings, every little bit counts. The innovation ETF is up 36% in the past year, and the internet ETF is up 44%.
Check out all of ARK Invest’s buys for Wednesday:
|ARKG||PACB||PACIFIC BIOSCIENCES OF CALIFORNIA||54,000|
|ARKK||ZM||ZOOM VIDEO COMMUNICATIONS||195,009|
|ARKQ||BLDE||BLADE AIR MOBILITY||2,376|
|ARKQ||KTOS||KRATOS DEFENSE & SECURITY SOLUTIONS||9,008|
|ARKW||ZM||ZOOM VIDEO COMMUNICATIONS||31,368|
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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