One of the ARK exchange-traded funds run by ETF star Cathie Wood made huge purchases on Tuesday. Accordingly these funds bought over 680,000 shares of Nano Dimension Ltd. (NASDAQ: NNDM) shares on Tuesday, as the price of this ETF gained about 1% on Tuesday. Note that this ETFs is still up over 100% in the last year.
ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) bought 687,506 shares of Nano Dimension. At Tuesday’s closing price this would have valued this purchase at roughly $5.25 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKQ is up 146% in the last year.
For some quick background, Nano Dimension is a provider of intelligent machines for the fabrication of Additively Manufactured Electronics (AME). Some of these include high fidelity active electronic and electromechanical subassemblies which are integral enablers of autonomous intelligent drones, cars, satellites, smartphones, and in vivo medical devices. They necessitate iterative development, IP safety, fast time-to-market and device performance gains, thereby mandating AME for in-house, rapid prototyping and production.
Nano Dimension machines serve cross-industry needs by depositing proprietary consumable conductive and dielectric materials simultaneously, while concurrently integrating in-situ capacitors, antennas, coils, transformers and electromechanical components, to function at unprecedented performance.
Catherine Wood, the CEO and CIO of ARK Investment Management LLC is a minority and non-voting shareholder of 24/7 Wall St., LLC, owner of 247wallst.com.