A couple of the ARK exchange-traded funds run by ETF star Cathie Wood made huge purchases on Monday. Accordingly, these funds bought over 1.3 million shares of Palantir Technologies Inc. (NASDAQ: PLTR) shares on Monday, as the price of these funds lost about 5% on the day. Note that these ETFs are still up a fair amount in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 1,070,331 million shares of Palantir, while ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 294,177 shares. At Monday’s closing price, this would have valued these purchases at roughly $25.2 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKK is up 81% in the past year, and ARKW is up 84%.
Check out all of ARK Invest’s buys for Monday as well.
Recently, 24/7 Wall St. reported on Palantir:
This company came public as a direct listing and struggled out of the gate, but the stock seems to be taking off now. Palantir Technologies … builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations.
The company offers Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, which enables users to identify patterns hidden deep within datasets, ranging from signals to intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.
The company also provides Palantir Foundry, a platform that transforms the ways organizations operate by creating a central operating system for their data, and it allows individual users to integrate and analyze the data they need in one place.
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.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
