ARK Invest purchased 359,612 shares of Rocket Lab. The investment was spread across three exchange-traded funds. These transactions occurred on Tuesday, September 22nd. ARK disclosed the trades on September 23rd. The total purchase is valued at approximately $25.1 million.
Rocket Lab is currently nearing a planned acquisition of Iridium and the debut of its Neutron rocket. The company recently launched a $1.94 billion share offering to finance the Iridium deal. ARK funded the move by selling over $5.8 million of Alphabet stock. Rocket Lab shares rose nearly 3% on the day of the trades.