One of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made a huge purchase on Friday. This fund bought over 300,000 shares of robotics software company UiPath Inc. (NYSE: PATH), as the price of this ETF dropped more than 1% on Friday. Note that this fund is down handily over the past year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 308,263 shares of UiPath. At Friday’s closing price, this would have valued this purchase at roughly $13.6 million. Even though this is a small fraction of the total holdings, every little bit counts. The fund is down 22% in the past year.
Check out all of ARK Invest’s trades for Friday:
|ARKQ||Buy||BLDE||BLADE AIR MOBILITY||27,621|
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.