Closely followed innovation investor Cathie Wood on Tuesday purchased north of $60 million worth of DraftKings stock. Wood's ARK Invest loaded up on 1,073,171 shares of the sporting betting company across various funds, a position worth roughly $60.6 million, based on DraftKings ' closing price of $56.47 per share on Tuesday. The firm bought 742,840 shares in its flagship ARK Innovation fund, and 202,723 shares were purchased in ARK's Net Generation Internet ETF . Finally, 127,608 share were added to the ARK Fintech Innovation ETF. While DraftKings is not a new portfolio addition for Wood — the stock makes up more than 2.5% of the ARK Innovation ETF — it is unusual for the hot-handed investor to purchase a name when it's rallying. Wood's purchase came after DraftKings jumped nearly 6% in the previous session. Shares of DraftKings are up more than 11% this week alone. DraftKings agreed earlier this month to buy Golden Nugget Online Gaming in a deal valued at about $1.56 billion, expanding the fantasy-sports giant's presence in the hot market for online betting. Shares are up more than 19% in August. DraftKings also announced in August its partnership with Genius Sports . The deal provides DraftKings with exclusive sportsbook data around from the NFL. Genius Sports is the official rights holder of the information. ARK Invest on Tuesday purchased 224,800 shares of Genius Sports , a position worth roughly $4.1 million. Shares of Genius Sports rose 6.6% to $18.40 per share Tuesday. Wood also purchased large positions in Soaring Eagle Acquisition Corp., which is expected to merge with Bill Gates-backed biotech company Ginkgo Bioworks. Wood also bough shares of Zillow , Teladoc Health and Coinbase .
Cathie Wood, chief executive officer and chief investment officer of ARK Investment Management LLC, speaks dur