Two ARK Invest exchange-traded funds run by ETF star Cathie Wood have bought nearly $25 million worth of shares of Robinhood Markets Inc. (NASDAQ: HOOD). These funds added over 900,000 more shares altogether on Monday. This was as prices of these ETFs gained less than 1% in Monday’s session, though these funds are somewhat mixed over the past year.
ARK Fintech Innovation ETF (NYSEARCA: ARKF) bought 342,346 shares of Robinhood, and ARK Innovation ETF (NYSEARCA: ARKK) purchased 572,717 shares. At Monday’s closing price, this would value these purchases at roughly $24.8 million altogether. This is only a small fraction of the total holdings. The fintech fund is up 2% in the past year, while the innovation ETF is down closer to 3%.
Check out all of ARK Invest’s buys for Monday:
|ARKK||PACB||PACIFIC BIOSCIENCES OF CALIFORNIA||419,669|
|ARKQ||BLDE||BLADE AIR MOBILITY||102,325|
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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