A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood made a huge buy on Wednesday. Specifically, these funds bought roughly $17 million worth of Ginkgo Bioworks Holdings Inc. (NYSE: DNA), as the prices of these funds were down sharply on Wednesday.
ARK Genomic Revolution ETF (NYSEARCA: ARKG) bought 485,075 shares, while ARK Innovation ETF (NYSEARCA: ARKK) bought 995,250 shares. At Wednesday’s closing price, this would have valued the sales at roughly $16.9 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. The Genomic Revolution ETF is down more than 26% and the other is down 11% in the past year.
Check out all the ARK Invest purchases for Wednesday as well:
|ARKK||ZM||ZOOM VIDEO COMMUNICATIONS||132,250|
|ARKQ||BLDE||BLADE AIR MOBILITY||315,689|
|ARKW||ZM||ZOOM VIDEO COMMUNICATIONS||33,372|
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.