NET - Cathie Wood's Ark Invest Tweaks Portfolio Sells $1.8M Worth Of DraftKings Shares | Benzinga
On Wednesday, Cathie Wood-led Ark Invest made a notable move by selling a significant number of shares in DraftKings Inc (NASDAQ:DKNG). This decision comes amidst Ark Invest’s recent diversification of its portfolio, as highlighted by the sale of Tesla shares and increased positions in other tech giants.
The DraftKings Trade
Ark Invest sold a total of 61,638 shares of DraftKings, marking a reduction of 0.1461% in ARK Next Generation Internet ETF (NYSE:ARKW). The transaction was valued at $1.8 million, based on the closing share price of $28.93.
This move is intriguing, especially considering the positive outlook for DraftKings in the sports betting sector. Analysts have expressed optimism about the company’s momentum continuing, backed by strategic partnerships and an expanding market presence.
See Also: Cathie Wood Comments on Nvidia
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