Cathie Wood’s ARK ETF reportedly buys 6.93M shares of SPAC merging
Cathie Wood’s Ark Invest has reportedly purchased 6.93 million shares of the special purchase acquisition company, or SPAC, that is merging with Circle, for $70.6 million through the company’s ARK Fintech Innovation exchange-traded fund (ETF). This purchase would represent a new position for the ETF, according to MarketWatch.
Ark Invest’s ETFs have a history of bold purchases within the tech industry as indicated by their move to buy $80 million in Robinhood (NASDAQ:) shares after the prices dipped back in October 2021. Wood is also bullish on crypto despite passing on buying the first futures ETF that same month.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Read More: Cathie Wood’s ARK ETF reportedly buys 6.93M shares of SPAC merging