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Investing

Cathie Wood’s ARK Invest Buys Over 1.3 Million Shares of ZhongAn Online

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By Chris Lange Published
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Cathie Wood’s ARK Invest Buys Over 1.3 Million Shares of ZhongAn Online

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One of the ARK exchange-traded funds run by ETF star Cathie Wood made a huge purchase on Monday. Accordingly this fund bought over 1.3 million shares of ZhongAn Online P & C Insurance Co., Ltd. (HKSE: 6060.HK) shares on Monday, as the price of this ETF was relatively flat on the day. Note that this ETF is still up over 100% in the last year.

ARK Fintech Innovation ETF (NYSEARCA: ARKF) bought 1,331,781 shares of ZhongAn Online. At Monday’s closing price this would have valued this purchase at roughly $70 million in Hong Kong Dollars. Even though this is a small fraction of the total holdings, every little bit counts. ARKF is up 163% in the last year.

For some quick background on this company, it as an online insuretech company, provides internet insurance and information technology services in China.

The company operates through Insurance, Technology, and Others segments. It offers property and casualty insurance products covering accident, bond and credit, health, liability, cargo, household property, and motor insurance, as well as shipping return policy insurance.

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 a673b.bigscoots-temp.com.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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