One ARK Invest exchange-traded fund run by ETF star Cathie Wood bought over 360,000 shares of Robinhood Markets Inc. (NASDAQ: HOOD) on Thursday. The price of this ETF pulled back more than 3% in Thursday’s session, and it is down a fair amount in the past year.
It was the ARK Innovation ETF (NYSEARCA: ARKK) that added 363,261 shares of Robinhood. At Thursday’s closing price, this would have valued this purchase at roughly $6.6 million. This is only a small fraction of the total holdings. The ETF is down roughly 26% in the past year.
Check out all of ARK Invest’s trades for Thursday:
|ARKW||Buy||NU||NU HOLDINGS/CAYMAN ISLANDS||229,470|
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.