Cathie Wood’s ARK Invest Buys Over 850,000 Shares of DraftKings

By Chris Lange Published Jun 16, 9:15AM EDT

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Cathie Wood’s ARK Invest Buys Over 850,000 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. These funds bought over 850,000 shares of DraftKings Inc. (NASDAQ: DKNG | DKNG Price Prediction), as the price of these ETFs lost more than 2% on Tuesday. Note that these funds are still up handily in the past year.

ARK Innovation ETF (NYSEARCA: ARKK) bought 688,702 shares of DraftKings, while ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 181,597 shares. At Tuesday’s closing prices, this would have valued these purchases at roughly $42.2 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 79%.

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

Fund	Ticker	Company	Shares
ARKF	JD	JD.COM INC	54,700
ARKF	KSPILI	KASPI.KZ JSC	4,393
ARKG	VRTX	VERTEX PHARMACEUTICALS INC	68,784
ARKG	SEER	SEER INC	15,080
ARKG	RPTX	REPARE THERAPEUTICS INC	88,603
ARKG	CMIIU	CM LIFE SCIENCES II INC	46,182
ARKK	DKNG	DRAFTKINGS INC	688,702
ARKK	PATH	UIPATH INC	323,586
ARKQ	IRDM	IRIDIUM COMMUNICATIONS INC	50,000
ARKQ	KTOS	KRATOS DEFENSE & SECURITY SOLUTIONS INC	62,458
ARKQ	PATH	UIPATH INC	61,610
ARKW	DKNG	DRAFTKINGS INC	181,597
ARKX	BLDE	BLADE AIR MOBILITY INC	142,411

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Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.
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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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