Two ARK Invest exchange-traded funds run by ETF star Cathie Wood have bought nearly $14 million worth of shares of Robinhood Markets Inc. (NASDAQ: HOOD). These funds added nearly 500,000 more shares altogether on Tuesday. This was as prices of these ETFs gained around 2% in Tuesday’s session, though these funds are up a fair amount in the past year.
ARK Fintech Innovation ETF (NYSEARCA: ARKF) bought 278,355 shares of Robinhood, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 221,389 shares. At Tuesday’s closing price, this would value these purchases at roughly $13.8 million altogether. This is only a small fraction of the total holdings. The funds are up between 5% and 10% in the past year.
Check out all of ARK Invest’s buys for Tuesday:
|ARKG||PACB||PACIFIC BIOSCIENCES OF CALIFORNIA||352,967|
|ARKG||BNR||BURNING ROCK BIOTECH||96,815|
|ARKK||ZM||ZOOM VIDEO COMMUNICATIONS||538,573|
|ARKW||ZM||ZOOM VIDEO COMMUNICATIONS||106,537|
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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