One ARK Invest exchange-traded fund run by ETF star Cathie Wood bought nearly 800,000 shares of Robinhood Markets Inc. (NASDAQ: HOOD) on Thursday. The price of this ETF gained over 3% in Thursday’s session, but it still is down a fair amount in the past year.
It was the ARK Innovation ETF (NYSEARCA: ARKK) that added 793,511 shares of Robinhood. At Thursday’s closing price, this would have valued this purchase at roughly $14.4 million. This is only a small fraction of the total holdings. The fund is down roughly 23% in the past year.
Check out all of ARK Invest’s purchases for Thursday:
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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.