Cathie Wood’s ARK Invest Buys Over 750,000 Shares of DraftKings

By Chris Lange Published Sep 23, 8:05AM EDT

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Cathie Wood’s ARK Invest Buys Over 750,000 Shares of DraftKings — © Fayethequeen / iStock via Getty Images

A couple of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge purchases on Wednesday. These funds bought over 750,000 shares of DraftKings Inc. (NASDAQ: DKNG | DKNG Price Prediction) altogether, as the price of these ETFs gained around 1% on Wednesday. Note that these funds are up handily in the past year.

ARK Innovation ETF (NYSEARCA: ARKK) bought 599,968 shares of DraftKings and ARK Next Generation Internet ETF (NYSEARCA: ARKW) acquired 159,851 shares. At Wednesday’s closing prices, this would have valued these purchases at roughly $40.0 million altogether. Even though this is a small fraction of the total holdings, every little bit counts. Both funds are up more than 30% in the past 52 weeks.

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

Fund	Ticker	Name	Shares
ARKG	BEAM	BEAM THERAPEUTICS	917
ARKG	TDOC	TELADOC HEALTH	49,572
ARKG	SGFY	SIGNIFY HEALTH	663,604
ARKG	NVTA	INVITAE	147,384
ARKK	TWOU	2U	113,482
ARKK	TDOC	TELADOC HEALTH	133,063
ARKK	SGFY	SIGNIFY HEALTH	972,792
ARKK	PATH	UIPATH	534,573
ARKK	NVTA	INVITAE	135,684
ARKK	COIN	COINBASE GLOBAL	39,813
ARKK	DKNG	DRAFTKINGS	599,968
ARKQ	KTOS	KRATOS DEFENSE & SECURITY SOLUTIONS	97,293
ARKQ	DDD	3D SYSTEMS	37,046
ARKW	DKNG	DRAFTKINGS	159,851
ARKW	GENI	GENIUS SPORTS	53,600
ARKX	ACHR	ARCHER AVIATION	34,224

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