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Investing

Cathie Wood’s ARK Invest Buys Over 700,000 Shares of DraftKings

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By Chris Lange Published
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Cathie Wood’s ARK Invest Buys Over 700,000 Shares of DraftKings

© Fayethequeen / iStock via Getty Images

A couple of the ARK exchange-traded funds run by ETF star Cathie Wood made huge purchases on Tuesday. Accordingly these funds bought over 700,000 shares of DraftKings Inc. (NASDAQ: DKNG | DKNG Price Prediction) shares on Tuesday, as the price of these ETFs gained more than 1% on Tuesday. Note that these ETFs are still up handily in the last year.

ARK Innovation ETF (NYSEARCA: ARKK) bought 679,736 shares of DraftKings, while ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 28,314 shares. At Tuesday’s closing price this would have valued this purchase at roughly $31.3 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKK is up 78% in the last year, and ARKW is up 81%.

Check out all of ARK Invest’s buys for Monday:

Fund Direction Ticker Company Shares
ARKF Buy STNE STONECO LTD 174,419
ARKF Buy KSPILI KASPI.KZ JSC 1,603
ARKF Buy SQ SQUARE INC 18,714
ARKG Buy SGFY SIGNIFY HEALTH INC 27,803
ARKG Buy RXRX RECURSION PHARMACEUTICALS INC 10,440
ARKG Buy ONEM 1LIFE HEALTHCARE INC 28,461
ARKG Buy MASS 908 DEVICES INC 25,427
ARKG Buy CDXS CODEXIS INC 3,210
ARKK Buy TSLA TESLA INC 43,370
ARKK Buy PACB PACIFIC BIOSCIENCES OF CALIFORNIA INC 2,124
ARKK Buy DKNG DRAFTKINGS INC 679,736
ARKK Buy CRSP CRISPR THERAPEUTICS AG 2,131
ARKK Buy COIN COINBASE GLOBAL INC 118,214
ARKK Buy BEAM BEAM THERAPEUTICS INC 200
ARKQ Buy ACIC ATLAS CREST INVESTMENT CORP 352,406
ARKQ Buy TSLA TESLA INC 3,661
ARKQ Buy NIU NIU TECHNOLOGIES 300
ARKQ Buy PATH UIPATH INC 3,526
ARKW Buy TWLO TWILIO INC 19,584
ARKW Buy COIN COINBASE GLOBAL INC 42,248
ARKW Buy DKNG DRAFTKINGS INC 28,314
ARKX Buy BLDE BLADE AIR MOBILITY INC 181,896

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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Photo of Chris Lange
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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