Cathie Wood-led Ark Invest is piling up shares of data analytics company Palantir Technologies Inc PLTR on every dip.
The New York-based investment firm snapped up 683,996 shares — estimated to be worth $16.4 million, its fifth straight-session buy in the Peter Thiel co-founded company.
Palantir shares closed 0.58% lower at $24.01 on Friday and have slipped about 4% in the past week. Shares of the company jumped 11% after it reported second-quarter earnings earlier this month.
Ark Invest owns Palantir via all of its six active exchange-traded funds but deployed the Ark Fintech Innovation ETF (NYSE: ARKF) and the Ark Autonomous Technology & Robotics ETF ARKQ to buy the shares on Friday.
Including Friday’s buys, Ark Invest holds a total of 36.09 million shares, worth $871.8 million in Palantir.
Here are some of the other key trades for Ark on Friday:
- Shed 79,325 shares, estimated to be worth $20.87 million, in Jack Dorsey-led Square Inc SQ. Square share closed 2.20% higher at $263.05 on Friday.
- Snapped up 84,860 shares, estimated to be worth $1.46 million, in Genius Sports Ltd GENI on the day shares of the sports data and technology company closed 1.41% higher at $17.26.
- Shed 5,185 shares, estimated to be worth about $9.26 million, in Mercadolibre Inc MELI. Shares of the Buenos Aires, Argentine-headquartered company that operates online marketplaces dedicated to e-commerce and online auctions, closed 1.51% higher at $1,786.54 on Friday.
- Sold 84,975 shares, estimated to be worth about $11.7 million, in the U.S.-listed Chinese tech company Baidu Inc BIDU. Shares of Baidu closed 0.23% higher at $137.65 on Friday.
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