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Special purpose acquisition companies (SPACs) were a hot topic for investors in 2020 and continue to be a big story in 2021. While SPACs have lost some of the initial buzz surrounding them, some of the larger names going public via this method are attracting interest from mutual funds and ETFs.
Ark Funds CEO Cathie Wood has been adding several SPACs to the company’s ETFs. Here is a look at 10 SPACs and former SPACs that are owned in the Ark Funds.
DraftKings: Online sports betting company
DraftKings Inc (NASDAQ: DKNG) is held in two Ark Funds ETFs. The
Ark Next Generation Internet ETF (ARCA:ARKW) owns 1.38 million shares of DraftKings valued at $98.7 million. The stock is the 30th largest holding in the ETF and represents 1.3% of the fund’s assets. DraftKings is also held in the
(NNDM), (ARKQ) - Cathie Wood Shares Thoughts On Nano Dimension benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
The electric vehicle market is expected to touch $985.72 billion by 2027 as traditional automakers and emerging EV companies transform the automotive .
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Shares of Workhorse dropped this week after it was revealed the company was not the winner for a key USPS contract. One ETF manager is using the pullback as a buying opportunity.
What Happened: Cathie Wood and the team at Ark Funds added more shares to the firm s stake in
Workhorse Group (NASDAQ: WKHS) on Wednesday.
The
Ark Autonomous Technology & Robotics ETF (BATS: ARKQ) added 660,500 shares of Workhorse on Wednesday, according to a daily email showing trading activity from Ark Funds.
The ETF now owns 3.2 million shares of the stock valued at $49 million. Workhorse makes up around 1.3% of the fund’s assets.
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