Cathie Wood’s Ark Investment Management on Friday hiked its stake in Velo3D Inc (NYSE:VLD), a 3D-printing technology firm that counts Tesla Inc (NASDAQ:TSLA) CEO Elon Musk's SpaceX among its key customers.

Wood bought over 96,000 shares of the company, valued at over $421,000 based on Thursday’s closing price through the ARK Space Exploration & Innovation ETF (NYSE:ARKX). The fund holds Velo3D shares valued at over $8.9 million with a weight of 3.18%.

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Last week, Velo3D announced that Kevton Technologies had purchased seven of the company's Sapphire printers. The purchase is one of the largest ever with Velo3D from a contract manufacturer and will make Kevton Technologies one of the top suppliers of additively manufactured parts relying on Velo3D's laser powder bed fusion technology.

Price Action: Velo3D Inc shares have lost over 7% in the last five days. Since the beginning of the year, the stock has lost over 44%, according to data from Benzinga Pro.

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