Cathie Wood-led Ark Investment Management on Monday snapped up 137,133 shares, estimated to be worth about $6.74 million, in $DraftKings Inc(DKNG.US)$, its second trade in the sports betting company in the aftermath of a negative short-seller report last month.
Shares of the Boston, Massachusetts-based company closed 0.14% lower at $49.16 on Monday.
A Hindenburg report published last month claimed DraftKings' fully-owned unit SBTech to be a red flag within the DraftKings business.
The New York-based investment owns the shares of DraftKings via three of its active ETFs — the $ARK Innovation ETF(ARKK.US)$, the $ARK Next Generation Internet ETF(ARKW.US)$ and the $ARK Fintech Innovation ETF(ARKF.US)$.
Ark Invest deployed ARKW on Monday to buy the shares of the sports betting company.
On a consolidated basis, Ark now held 12.2 million shares, worth $599.17 million, in DraftKings, ahead of Monday’s trade.
Some of the other key buys for Ark on Monday included $Coinbase Global, Inc.(COIN.US)$, $UiPath, Inc.(PATH.US)$, $Zoom Video Communications Inc(ZM.US)$ and sells included$Roku Inc(ROKU.US)$, $PayPal Holdings Inc(PYPL.US)$ and $JD.com Inc(JD.US)$.
Source: ARK Trading
Please do not blindly follow ARK's trades. This is to provide you with a list of quality companies worth looking at. It is always smart to do your own due diligence before investing!