Cathie Wood-led Ark Invest on Tuesday further increased the exposure in Palantir Technologies Inc (NYSE:PLTR), continuing its buying spree in the Peter Thiel-co-founded data analytics company on the dip.
Ark Invest snapped up 476,114 shares — estimated to be worth $11.4 million — as of Palantir’s closing price on Tuesday.
Palantir shares, which jumped 11% after it reported second quarter earnings last week, closed 2.16% lower at $23.97 on Tuesday.
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 Space Exploration & Innovation ETF (BATS:ARKX) to buy the shares on Tuesday.
The six ETFs held a total of 35.5 million shares, worth $870 million, in Palantir, ahead of Tuesday’s trades.
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