Cathie Wood’s Ark Investment Management on Wednesday further raised its exposure in Velo3D Inc (NYSE:VLD) on the dip.
The popular money managing firm bought 19,136 shares, estimated to be worth $121,130.8 based on Wednesday’s closing price in Velo3D.
Velo3D stock closed 26.48% lower at $6.3 a share on Wednesday.
The California-based Velo3D is a 3D-printing technology firm that counts Tesla Inc (NASDAQ:TSLA) CEO Elon Musk’s SpaceX among key clients.
Other than SpaceX, Benny Buller-founded Velo3D has worked with Honeywell International Inc (NYSE:HON), Boom Supersonic, and Lam Research, since its production launch in 2018.
Ark Invest bought shares in the company through two of its actively traded exchange funds — the Ark Space Exploration & Innovation ETF (BATS:ARKX) and the Ark Autonomous Technology & Robotics ETF (BATS:ARKQ).
The two ETFs held 7.58 million shares, worth $65.3 million, in Velo3D, before Wednesday’s trade.
Wood's Ark has been steadily buying shares in Velo3D since its market debut in October, which happened via a merger with blank-check firm Jaws Spitfire Acquisition Corp.
Photo: Courtesy of Velo3D
