After a few days of quiet trading, star investor Cathie Wood, chief executive of Ark Investment Management, is back to dealing big names in big amounts.
On Friday, Ark funds in particular sold shares of electric-vehicle leader Tesla (TSLA) – Get Tesla Inc Report and bought into Nio (NIO) – Get NIO Inc. (China) Report, the Chinese EV producer. (All valuations are as of Friday’s close.)
The asset manager also bought Coinbase (COIN) , Roblox (RBLX) – Get Roblox Corp. Class A Report, Roku (ROKU) – Get Roku, Inc. Class A Report, Zoom Video Communications (ZM) – Get Zoom Video Communications, Inc. Class A Report. Coinbase is the largest U.S. cryptocurrency exchange, Roblox is an online gaming platform, and Zoom is a videoconferencing service.
As for Tesla, Wood has said her sales of the stock merely represented profit-taking and that she believes in the company for the long term. On Friday, Ark funds sold Tesla shares valued at $147.6 million. Tesla is still the No. 1 holding in Ark’s flagship Ark Innovation ETF (ARKK) – Get ARK Innovation ETF Report.
Ark Autonomous Technology & Robotics ETF (ARKQ) – Get ARK Autonomous Technology & Robotics ETF Report bought 420,057 shares of Nio, worth $8.4 million.
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Ark Innovation bought 162,291 shares of Coinbase, valued at $30.3 million as of Friday’s close. Coinbase is the fifth biggest holding in Ark Innovation.
Ark funds purchased 596,233 shares of Roblox, valued at $28.1 million. Roblox is the 21st largest holding in Ark Innovation.
Ark funds bought 172,703 shares of Roku, valued at $21.4 million. Roku is the second biggest holding in Ark Innovation.
Ark funds purchased 178,040 shares of Zoom, valued at $20.3 million as of Friday’s close. Zoom is the fourth biggest holding in Ark Innovation.
Ark Innovation, which consists of technology-related companies, has jumped 27% in the past two weeks as tech stocks rebounded. That compares with a 14% climb for the tech-heavy Nasdaq Composite Index.