To The Moon

Cathie Wood's ARK Invest has made a substantial acquisition of shares in SpaceX.

The investment firm purchased nearly $530 million worth of stock following the highly anticipated public market debut of the Elon Musk-led company.

ARK Invest's Major Purchase During SpaceX's Public Offering

On Friday, June 12th, shares of SpaceX closed up 19.22% at $160.95 each.

This closing price valued ARK Invest's total acquisition at over $529 million, a transaction executed through four of its exchange-traded funds.

Recent trading disclosures show that ARK Invest's purchase of SpaceX was the sole buy across its suite of funds, which include ARKK, ARKW, ARKQ, and ARKX.

All other reported stock movements for the period indicated selling activity.

The ARKK Innovation ETF executed the largest portion of the investment, buying 1,690,839 shares of SPCX.

Based on the closing share price, this purchase was valued at approximately $272.2 million.

The new position now represents a 3.2789% weighting within the overall ARKK portfolio.

Additionally, the ARK Autonomous Technology & Robotics ETF acquired 736,442 shares.

This holding is valued at nearly $118.5 million and accounts for 4.5423% of that fund's assets.

Simultaneously, the ARK Next Generation Internet ETF purchased 325,562 shares worth around $52.4 million.

The ARK Space Exploration & Innovation ETF added 538,341 shares valued at close to $86.6 million.

Within the ARKX fund, the SpaceX holding carries the highest portfolio weight among the four funds, at 6.8899%.

In total, the combined purchases amounted to 3,291,184 shares of SPCX.

At the market close, this entire position was worth more than $529.7 million.

However, at the stock's intraday peak of $176.52, the total value of Cathie Wood's SpaceX holdings briefly exceeded a substantial $580 million.

Details of SpaceX's Highly Successful Market Launch

This significant investment follows SpaceX's massive initial public offering, which aimed to raise $75 billion.

The company issued 556 million shares at $135 each, establishing a pre-IPO valuation of approximately $1.77 trillion.

The company's current market valuation stands at a colossal $2.11 trillion, a milestone that has made Elon Musk the world's first trillionaire.

The stock launch was met with robust investor demand.

Shares opened for trading at $172, representing a 27.4% gain from the initial offering price.

The stock concluded the day at $160.95, up 19.22% from its IPO price.

Extended-hours trading saw further appreciation, with the SPCX stock rallying an additional 3.67% to $166.85.

Concurrently, ARK Invest divested major positions in several other companies, including Elon Musk's Tesla.

The firm also sold shares in Roku, AMD, Rocket Lab, Cloudflare, and CrowdStrike, among others.

It is possible that proceeds from these sales were directed toward funding the purchase of the SpaceX stock.