Cathie Wood’s firm added SpaceX stock to four ETFs last week, totaling over $51 million in purchases amid post-IPO volatility.
Ark Invest purchased $51 million worth of SpaceX shares last week, distributing the stock across its innovation-focused ETFs. The buys included 44,196 shares at $6.6 million on Tuesday, 181,847 shares at $27 million on Wednesday, and 116,971 shares at $17.8 million on Friday.
SpaceX debuted on Nasdaq just over a month ago, and Ark has steadily increased its holdings since. The firm allocated shares to the Ark Innovation ETF (ARKK), Ark Autonomous Tech & Robotics ETF (ARKQ), Ark Next Generation Internet ETF (ARKW), and Ark Space & Defense Innovation ETF (ARKX).
Ark’s long-term investment in SpaceX predates its public listing, reflecting the firm’s bullish outlook on the aerospace company’s growth potential.