ARK Invest Fund, led by Cathie Wood, added yesterday more Xpeng shares for the third time this week. ARK bought another 57,657 shares worthing around $2M, based on yesterday’s closing price of $34.52. Earlier this week, the Fund added 55,178 shares (around $2M, also) and on the next day another 14,000 making this one the third buy of this week. Xpeng is currently down 31% Year-to-date.
This week, ARK invested a total of $4.5 million on the Chinese EV maker bringing the weight on ARKQ Portfolio up to 1.73% with 784,394 shares.
ARK’s ARKQ ETF is focused on Autonomous Tech. & Robotics and has Tesla as the main holding with a weight of 10.37% while the EV maker Xpeng represents 1.73% of the portfolio.
On February 2nd, and through ARKK ETF, 7,132 Tesla shares were added to the portfolio while 14,000 Xpeng shares were bought through ARKQ, ARK’s ETF focused on Autonomous Tech. & Robotics. These buys are estimated to worth around $6.5M, $6M of Tesla shares and $0.5M on the Chinese automaker.
ARKQ is an actively managed ETF that seeks long-term growth of capital by investing under normal circumstances primarily (at least 80% of its assets) in domestic and foreign equity securities of of autonomous technology and robotics companies that are relevant to the Fund’s investment theme. Autonomous technology and robotics companies are companies that the Adviser believes are expected to focus on, among other things, disruptive innovation in automation and manufacturing, transportation, energy, artificial intelligence, and materials.
Xpeng’s stock closed 3.58% lower at $34.52 a share on Thursday and is down 31.41% Year-to-date.
XPeng delivered 12,922 Smart EVs in January 2022, representing a 115% increase year-over-year, exceeding the monthly delivery benchmark of 10,000 units for the fifth consecutive month.
Deliveries in January 2022 consisted of 6,707 P7 smart sports sedans, representing an 81% increase year-over-year. 4,029 P5 smart family sedans were delivered in January, bringing total deliveries to over 11,000 since its launch in September 2021. 2,186 G3 and G3i smart compact SUVs were delivered in January.