A couple of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge purchases on Wednesday. These funds bought over 750,000 shares of DraftKings Inc. (NASDAQ: DKNG) altogether, as the price of these ETFs gained around 1% on Wednesday. Note that these funds are up handily in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 599,968 shares of DraftKings and ARK Next Generation Internet ETF (NYSEARCA: ARKW) acquired 159,851 shares. At Wednesday’s closing prices, this would have valued these purchases at roughly $40.0 million altogether. Even though this is a small fraction of the total holdings, every little bit counts. Both funds are up more than 30% in the past 52 weeks.
Check out all of ARK Invest’s buys for Wednesday:
|ARKQ||KTOS||KRATOS DEFENSE & SECURITY SOLUTIONS||97,293|
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.
ALSO READ: Oil Is Back Over $70 and 4 Stocks That Pay Massive Dividends Are Cheap
Get Our Free Investment Newsletter
Source: Read Full Article