2 Cathie Wood ETFs Buy More DraftKings Stock
After first buying stock in DraftKings (NASDAQ: DKNG) earlier this year, investment manager Cathie Wood has once again upped her stake in the daily fantasy sports and sports betting leader.
The ARK Next Generation Internet ETF (NYSEMKT: ARKW) bought 160,100 more shares in DraftKings, bringing the exchange-traded fund's total holdings to 1.37 million shares, while the ARK Fintech Innovation ETF (NYSEMKT: ARKF) bought 549,200 shares, bringing the total to 797,540 shares.
The market value of Wood's combined holdings is now $126 million, though the holdings represent just a fractional percentage of DraftKings' shares outstanding. They also only account for 1.2% of each ETF's total portfolio.
Source Fool.com
