Cathie Wood of Ark Invest bought a piece of stock in the old automaker on Friday General Motors Corp. GM.
What happened: Ark Invest, through his Ark Autonomous Technology & Robotics ETF ARCQbought 70,226 shares of GM worth about $2.89 million at a closing price of $41.12 on Friday.
After being a skeptic of old automakers, Wood opened a position at GM in May by purchasing 158,187 shares, valued at $6.05 million at the time. As recently as September 20, her company bought 120,004 GM shares.
With this purchase, ARKQ now holds approximately 252,342 GM shares valued at $10.03 million. Equities make up 1.09% of the ETF portfolio. Tesla Inc TSLA is the ETF’s top position with a weighting of almost 9%.
Earlier this week, Ark Invest announced through its numerous ETFs Bought 39,000 Tesla sharesvalued at over $7 million, taking advantage of the sharp decline in the electric vehicle giant’s shares.
Other transactions: On Friday, Ark Invest sold about a million shares in the autonomous trucking company TuSimple Holdings, Inc. TSPvalued at approximately $2.8 million.
In addition, 370,568 shares were sold Materialize NV MTLSa provider of additive manufacturing and medical software and 3D printing services.
By the way the The stock market has been in a two-day recovery since Thursday after the release of tamer-than-expected inflation data that gave investors hope for an uptrend.
Continue reading: The best automaker stocks
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