Cathie Wood-led Ark Invest on Monday continued its buying spree in Palantir Technologies Inc (NYSE:PLTR), piled up 2.57 million shares — estimated to be worth about $63 million — on the dip.
Palantir shares closed 1.61% lower at $24.50 on Monday.
The New York-based investment firm owns stakes in the Peter Thiel-co-founded data analytics company via all of its six active exchange traded funds but deployed the Ark Innovation ETF (NYSE:ARKK), Ark Fintech Innovation ETF (NYSE:ARKF), Ark Next Generation Internet ETF (NYSE:ARKW) and the Ark Space Exploration & Innovation ETF (BATS:ARKX) to buy the shares.
The six ETFs held a total of 35.5 million shares, worth $870 million, in Palantir, as of Monday’s trades.
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Here are some of the other key trades for Ark on Monday:
- Snapped up 210,644 shares — estimated to be worth about $11.05 million — in DraftKings Inc (NASDAQ:DKNG) on the dip. DraftKings shares closed 1.94% to $52.46 on Friday.
- Shed 149,695 shares, estimated to be worth about $39.43 million in Square Inc (NYSE:SQ), on the dip. Shares of Square closed 1.67% lower at $263.40 on Monday.
- Reduced its exposure in Alibaba Group Holdings (NYSE:BABA) by 152,255 shares – estimated to be worth about $27.82 million, on the day the shares of the Chinese conglomerate fell 3.12% to close at $182.71.
- Sold 6,975 shares — estimated to be worth about $19.3 million — in Google parent Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL). Alphabet shares closed marginally up at $2,766.19 on Monday.
- Other key buys included Zillow Group Inc (NASDAQ:ZG), UiPath Inc (NYSE:PATH), StoneCo Ltd (NASDAQ:STNE), Jaws Spitfire Acquisitions Corps (NYSE:SPFR) and sells included Base Inc (OTC:BAINF), Tencent Holdings (OTC:TCEHY), and BYD Co Ltd (OTC:BYDDF).