(Bloomberg) — Cathie Wooden’s fund on Monday marked its first buy of shares in U.S. automaker Common Motors Co., in line with buying and selling knowledge from ARK compiled by Bloomberg.
Wooden’s agency ARK Funding Administration LLC purchased 158,187 shares of Common Motors in a transaction price simply over $6 million, the info present, with ARK Autonomous Know-how and Robotics ETF making the acquisition.
The transaction got here as GM shares traded at near their lowest stage since November 2020, after sinking greater than 40% from a Jan. 4 document excessive. Wooden’s agency made the acquisition practically two weeks after the corporate posted quarterly earnings that beat estimates.
Whereas GM strikes towards creating a spread of battery-powered automobiles, Wooden’s agency has been promoting shares of electric-vehicle bellwether Tesla Inc. in no less than every of the final 4 quarters, in line with knowledge compiled by Bloomberg.
ARK’s day by day buying and selling updates present solely energetic selections by the administration workforce and don’t embrace creation or redemption exercise attributable to investor flows. The agency’s flagship ARK Innovation ETF is near erasing good points it held over the S&P 500 Index after rotating towards worth from development amid the financial reopening and rising U.S. Treasury yields.
https://www.bnnbloomberg.ca/cathie-wood-buys-into-general-motors-after-stock-s-steep-slide-1.1763730
