ARK Invest has been steadily accumulating shares of Meta since June, following the announcement of the company’s new social media app, Threads, which has quickly gained popularity and become the fastest-growing app globally.
Recently, the ARK Innovation ETF made a notable move by acquiring 82,352 shares of Meta on Friday, valued at over $25 million based on the closing price of $308.87 per share. This decision aligns with Meta’s impressive performance as the second-best performer among S&P 500 companies this year, with a substantial growth of approximately 157%.
In addition to Meta, other ARK Invest ETFs also made significant purchases. The ARK Fintech Innovation ETF (ARKF) acquired 111,843 shares of Robinhood, while the ARK Innovation ETF (ARKK) purchased 69,793 shares of Meta.
Furthermore, the ARK Next Generation Internet ETF (ARKW) currently holds 12,559 shares of Meta and 169,116 shares of Robinhood. It is noteworthy that ARK Invest had previously purchased around 560,000 shares of Robinhood, valued at approximately $5.3 million at the time, further demonstrating their investment interest in the online brokerage firm.