Cathie Wood-led Ark Investment Management on Monday bought 731,775 shares, estimated to be worth about $41.76 million, inTwitter IncTWTR 4.66%— a day after The Bill and Melinda Gates Foundation Trustsold its entire stakein the social media company.
Shares of Twitter closed 4.81% higher at $57.06 on Monday. The stock has a 52-week high of $80.75 and a low of $28.23.
The investment firm made the trades via two of its funds; theArk Innovation ETFARKK 2.68%and theARK Next Generation Internet ETFARKW 3.08%.
The two ETFs together held over 10 million TWTR shares, worth about $549 million, as of Tuesday. No other Ark ETF holds shares of Twitter.
Twitter is steadily climbing up the Ark’s portfolio chart and is now ARKK's twenty-first largest investment among a total of 55 stocks and ARKW's fourth-largest investment among a total of 50 stocks.
At the start of the month, it ranked as ARKK's thirty-fourth largest investment among a total of 58 stocks and ARKW's eighth-largest investment among a total of 53 stocks.
The investment firm also bought 130,400 shares, estimated to be worth $6.24 million, of the daily fantasy sports companyDraftKings IncDKNG 7.24%via theArk Fintech Innovation ETFARKF 2.03%.The investment firm also holds shares of the company via ARKK.
DraftKings shares closed 7.24% higher at $47.86 on Monday and were further up 1.34% in extended hours.
The investment firm bought 2,453 shares, estimated to be worth about $1.23 million in video streaming companyNetflix IncNFLX 1.01%via itsArk Space Exploration & Innovation ETF(BATS:ARKX). The investment firm also holds shares of the company via ARKW.
Netflix shares closed 1% higher at $502.90 on Monday.