Ark Invest stepped up its bet on SpaceX, snapping up about $12.2 million worth of shares as the stock traded lower recently. The investment giant acquired 105,108 SpaceX shares across its actively managed ETFs, taking advantage of a nearly 30% drop in the stock over the past month. Despite SpaceX's 2.56% gain on the day of the purchase, it closed at $116.41, offering a more attractive entry point for Ark.
Since SpaceX went public in June, Ark has been steadily boosting its exposure, banking on the company’s satellite internet potential and innovations in orbital infrastructure. The firm sees long-term growth fueled by Starlink demand and dropping launch costs. This move contrasts with Ark’s trimming of stakes in other tech-forward financial companies on the same trading day.
Ark sold about $4 million in Robinhood shares, which fell 3% to close at $92.76, along with $2.3 million in Block shares despite a 2.29% daily gain. The firm also reduced its position in Bullish by $1.6 million. Bullish’s shares slipped 0.48%, ending the session at $22.69. Smaller purchases included $289,167 worth of Bitmine shares and nearly $32,667 in the 3iQ Solana Staking ETF, signaling Ark's continued, albeit cautious, interest in digital assets.
The firm often adjusts ETF holdings to keep individual stocks below 10% of a fund’s assets, balancing growth opportunities with risk management. Recent trades imply a deliberate pivot toward space technology while dialing back exposure in some financial and crypto-linked firms.
This material is informational and not financial advice.
