Cathie Wood’s ARK Invest Doubles Down on Buying This Biotech-Focused SPAC

One ARK Invest exchange-traded fund run by ETF star Cathie Wood bought nearly 2 million shares of Soaring Eagle Acquisition Corp. (NASDAQ: SRNG) on Thursday, as the share price of this fund traded up over 1% in the day’s session. This is doubling down on the huge purchase that Wood & Co. made on Wednesday.

Previously, ARK Genomic Revolution ETF (NYSEARCA: ARKG) bought 4,144,190 shares of the special purpose acquisition firm (SPAC), valuing the purchase at roughly $41 million.

On Thursday, ARK Innovation ETF (NYSEARCA: ARKK) bought an additional 1,926,400 shares of Soaring Eagle Acquisition. At Thursday’s closing price the transaction was valued at roughly $19.2 million. This is only a small fraction of the total holdings. ARKK is up 49% over the past 52 weeks.

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

FundDirectionTickerCompanyShares
ARKGBuySMFRSEMA4 HOLDINGS CORP73,710
ARKGBuyCRSPCRISPR THERAPEUTICS AG15,000
ARKGBuyMASS908 DEVICES INC70,000
ARKGBuySURFSURFACE ONCOLOGY INC38,017
ARKGBuyRPTXREPARE THERAPEUTICS INC525
ARKGBuySGFYSIGNIFY HEALTH INC21,100
ARKKBuyEDITEDITAS MEDICINE INC25,000
ARKKBuySRNGSOARING EAGLE ACQUISITION CORP1,926,400
ARKKBuyPATHUIPATH INC119,500
ARKKBuyROKUROKU INC337,688
ARKQBuyAVAVAEROVIRONMENT INC9,618
ARKQBuyMKFGMARKFORGED HOLDING CORP224,000
ARKQBuySPFRJAWS SPITFIRE ACQUISITION CORP10,336
ARKWBuyROKUROKU INC99,201
ARKWBuyGENIGENIUS SPORTS LTD280,214
ARKXBuySPFRJAWS SPITFIRE ACQUISITION CORP9,900

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

Source: Read Full Article