Cathie Wood-led Ark Investment Management on Monday bought 731,775 shares, estimated to be worth about $41.76 million, in Twitter Inc TWTR — a day after The Bill and Melinda Gates Foundation Trust sold its entire stake in the social media company.
Shares of Twitter closed 4.81% higher at $57.06 on Monday. The stock has a 52-week high of $80.75 and a low of $28.23.
The investment firm made the trades via two of its funds; the Ark Innovation ETF ARKK and the ARK Next Generation Internet ETF ARKW.
The two ETFs together held over 10 million TWTR shares, worth about $549 million, as of Tuesday. No other Ark ETF holds shares of Twitter.
See also: How to Buy Twitter (TWTR) Stock
Twitter is steadily climbing up the Ark’s portfolio chart and is now ARKK's twenty-first largest investment among a total of 55 stocks and ARKW's fourth-largest investment among a total of 50 stocks.
At the start of the month, it ranked as ARKK's thirty-fourth largest investment among a total of 58 stocks and ARKW's eighth-largest investment among a total of 53 stocks.
The investment firm also bought 130,400 shares, estimated to be worth $6.24 million, of the daily fantasy sports company DraftKings Inc DKNG via the Ark Fintech Innovation ETF ARKF. The investment firm also holds shares of the company via ARKK.
DraftKings shares closed 7.24% higher at $47.86 on Monday and were further up 1.34% in extended hours.
The investment firm bought 2,453 shares, estimated to be worth about $1.23 million in video streaming company Netflix Inc NFLX via its Ark Space Exploration & Innovation ETF ARKX. The investment firm also holds shares of the company via ARKW.
Netflix shares closed 1% higher at $502.90 on Monday.
Some of the other key Ark Invest sells on included Guardant Health Inc GH, LendingTree Inc TREE, JD.com Inc JD, Pinduoduo Inc. PDD, and buys include Signify Health Inc SGFY and 908 Devices Inc MASS.
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