Cathie Wood-led Ark Invest on Tuesday snapped up 1.07 million shares —estimated to be worth $60.6 million — in DraftKings Inc (NASDAQ:DKNG).
Shares of the Boston, Massachusetts-based sports-betting company closed 5.91% higher at $56.47 on Tuesday after it announced a deal with the privately-held Simplebet, a specialty tech company that facilitates micro-betting.
Ark owns stakes in DraftKings via the Ark Innovation ETF (NYSE:ARKK), the Ark Next Generation Internet ETF (NYSE:ARKW) and the Ark Fintech Innovation ETF (NYSE:ARKF) and deployed all three of its active ETFs on Tuesday to buy shares in Draftkings on Tuesday.
On a consolidated basis, Ark held 13.87 million shares, worth $740 million, in DraftKings, ahead of Tuesday’s trade.
See Also: Alibaba, Palantir, Google, JD, Lockheed Martin, Genius Sports — Stocks Cathie Wood’s Ark Bought Or Sold On Monday
Here are some of the other key trades for Ark on Tuesday:
- Sold 150,115 shares — estimated to be worth $40.55 million — in Jack Dorsey-led Square Inc (NYSE:SQ). Square share closed 0.1% lower at $270.17 on Tuesday.
- Snapped up 6,308 shares — estimated to be worth $1.6 million — in Coinbase Global Inc (NASDAQ:COIN). Shares of the cryptocurrency exchange company closed 1.28% higher at $259.28 on Tuesday.
- Shed 67,580 shares — estimated to be worth about $11.6 million — in Alibaba Group Holding (NYSE:BABA), on the day shares of the Chinese e-commerce giant soared to close 6.61% higher at $171.70.
- Bought 258,390 shares — estimated to be worth about $12.5 million — in Pfizer Inc (NYSE:PFE), on the day shares of the pharmaceutical company closed 3.01% lower at $48.38.
- Bought 10,231 shares —estimated to be worth about $1 million — in Pinduoduo Inc (NASDAQ:PDD), on the day shares of the Chinese agri-focused tech platform soared after reporting its first quarterly net profit. PDD shares closed 22.25% higher at $99.12 on Tuesday.