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Rising bond yields may have derailed the ARK Invest’s galaxy of exchange-traded funds, but the firm has had an enviable record over the last year of picking the technology companies that see the biggest gains.
So perhaps it isn’t a surprise that the
ARK Next Generation Internet ETF
bought over 500,000 shares of
Roblox,
the videogames developer that surged 54% in its trading debut on Wednesday.
The position, worth $36 million at Wednesday’s close, amounts to 0.47% of the
Cathie Wood
-managed fund, according to the trading data posted on ARK’s website.
It isn’t clear from the disclosure at what price the ARK fund bought Roblox.
The same fund sold nearly $18 million worth of
Facebook.
The fund is down about 18% over the last month, but up 153% over the last 52 weeks.