Kathy Wood’s investment fund bought shares in Robinood, Coinbase and DraftKings yesterday. This is what RBC writes about.
What the fund bought
According to the data, ARKF ETF purchased 181,700 shares of trading platform Robinood Markets, 23,400 shares of cryptocurrency exchange Coinbase Global and 3,200 shares of DraftKings.
The total number of company shares in the fund’s portfolio was 3.7 million, 722.9 thousand and 2.09 million, respectively.
Backstory
On December 2, Ark Invest founder Katie Wood bought a million shares of Twitter after CEO Jack Dorsey left the company. The investor invested almost $50 million.
What is known about the fund
ARK Innovation is Cathy Wood’s “flagship” innovation ETF focused on high-tech companies. Over the past five years, ARK Invest has recorded an average annual return of nearly 45%, making its founder a Wall Street star.
At the same time, this year turned out to be unsuccessful for the fund. So, in the third quarter, ARK Innovation became a record holder for capital outflow: by the end of September, $1.97 billion was withdrawn from it.
