Cathie Wood, the chief executive officer and chief investment officer of ARK Investment Management LLC.
Alex Flynn/Bloomberg
Rising bond yields may have derailed the ARK Invest’s galaxy of exchange-traded funds, but the firm has had an enviable record over the last year of picking the technology companies that see the biggest gains.
So perhaps it isn’t a surprise that the ARK Next Generation Internet ETF bought over 500,000 shares of Roblox, the videogames developer that surged 54% in its trading debut on Wednesday.
The position, worth $36 million at Wednesday’s close, amounts to 0.47% of the Cathie Wood -managed fund, according to the trading data posted on ARK’s website.
It isn’t clear from the disclosure at what price the ARK fund bought Roblox.
The same fund sold nearly $18 million worth of Facebook.
The fund is down about 18% over the last month, but up 153% over the last 52 weeks.
