Cathie Wood-led ARK Investment Management bought over 1.26 million shares of Palantir Technologies at an estimated valuation of about $13 million based on Wednesday's closing price.<br /><br />The purchase was done via the flagship ARK Innovation ETF ARKK, the ARK Next Generation Internet ETF ARKW, and the Ark Fintech Innovation ETF ARKF.<br /><br />ARK's stake purchase comes on a day when the shares closed over 8% higher. Palantir stock has witnessed strong gains over the past month, registering over 17% returns. The shares have gained over 60% since the beginning of the year, according to Benzinga Pro.
