One ARK Invest exchange-traded fund run by ETF star Cathie Wood made a huge purchase on Wednesday. Specifically, this fund bought over 625,000 shares of Palantir Technologies Inc. (NASDAQ: PLTR), as the price of this ETF was down on the day. Note that it is down a fair amount in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) picked up 628,636 more shares of this software company. At Wednesday’s closing price, that would have valued the purchase at roughly $10.5 million. Even though this is a small fraction of the total holdings, every little bit counts. The fund is down 34% in the past year.
Check out all of ARK Invest’s purchases for Wednesday as well:
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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.