Cathie Wood’s ARK Invest purchased over $36 million of SpaceX (SPCX) stock this week. The acquisition occurred as shares dropped below the $135 IPO price for the first time. ARK distributed the shares across several ETFs, with the ARK Innovation ETF (ARKK) taking the largest portion.
SpaceX faced selling pressure recently, declining in seven of the nine trading sessions before Thursday. The aerospace company is now the sixth-largest holding in the ARKK portfolio. SpaceX accounts for approximately 4.4% of the flagship fund's total assets.