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Investing

Cathie Wood’s ARK Invest Buys Over 7 Million Shares of This Biotech-Focused SPAC

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By Chris Lange Published
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Cathie Wood’s ARK Invest Buys Over 7 Million Shares of This Biotech-Focused SPAC

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A couple ARK Invest exchange-traded funds run by ETF star Cathie Wood bought over 7 million shares of Soaring Eagle Acquisition Corp. (NASDAQ: SRNG) on Monday, as the share price of these exchange-traded funds were up around 1% in the day’s session. Their share prices have greatly improved over the past year.

Specifically, ARK Genomic Revolution ETF (NYSEARCA: ARKG) bought 4,512,926 shares of the special purpose acquisition company (SPAC), and ARK Innovation ETF (NYSEARCA: ARKK | ARKK Price Prediction) bought 2,506,461 shares. At Monday’s closing prices, this would have valued this purchase at roughly $70.2 million. This is only a small fraction of the total holdings. ARKG is up 57% over the past 52 weeks and ARKK is up 54%.

Here is a quick look at all the purchases made by ARK ETFs:

Fund Ticker Company Shares
ARKG ADPT Adaptive Biotechnologies 232,610
ARKG SRNG Soaring Eagle Acquisition 4,512,926
ARKG SGFY Signify Health 30,490
ARKK Z Zillow 101,994
ARKK TSP TuSimple 316,814
ARKK SRNG Soaring Eagle Acquisition 2,506,461
ARKQ MKFG Markforged 57,406
ARKQ PATH UiPath 8,178
ARKW LPSN LivePerson 22,696
ARKW Z Zillow 24,750
ARKW PATH UiPath 8,641
ARKX BLDE Blade Air Mobility 16,370
ARKX KTOS Kratos Defense & Security Solutions 49,634

[nativounit]
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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