Ark Invest, the investment management firm focused on innovative technology led by Cathie Wood, took advantage of a price dip on Wednesday to buy nearly $80 million worth of Robinhood (NASDAQ:) stock.
Per daily trading data, Wood’s Ark purchased a total of 2.24 million shares of Robinhood across three of Ark’s ETF funds, with the majority of shares going to the flagship fund Ark Innovation ETF. Robinhood now accounts for 1.33% of the Innovation exchange-traded fund (ETF).
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