A day after some ARK Invest exchange-traded funds run by ETF star Cathie Wood scooped up more than $36 million worth of Palantir Technologies Inc. (NASDAQ: PLTR) shares, a few of those funds were back at it on Wednesday. Specifically, three funds bought over 1.2 million more shares, as the price of the ETFs dropped anywhere from 1% to 3% on the day. Note that all three are up a fair amount in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) purchased 905,352 shares of Palantir, ARK Autonomous & Robotics ETF (NYSEARCA: ARKQ) bought 121,510 shares and ARK Next Generation Internet ETF (NYSEARCA: ARKW) picked up 224,988 shares. At Wednesday’s closing price, this would have valued these purchases at roughly $28.2 million altogether. Even though this is a small fraction of the total holdings, every little bit counts. The share prices of these funds are up between 25% and 42% in the past year.
Check out all of ARK Invest’s buys for Wednesday as well:
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.