Ark Invest bought the shares in Xpeng via the Ark Autonomous Technology & Robotics ETF (BATS:ARKQ) on Thursday. It is the first time bought shares in the U.S. listed Chinese electric vehicle maker Xpeng Inc (NYSE:XPEV) on the dip and sold more shares in Tesla Inc (NASDAQ:TSLA).
ARKQ is an actively managed Exchange Traded Fund (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 autonomous technology and robotics companies that are relevant to the Fund’s investment theme of disruptive innovation.
Cathie Wood is very popular in China and is often featured in the Chinese media as the “Female Version of Warren Buffett” , “The Queen of invest” or “Sister Wood”. Cathie Wood investment in XPEV was immediately heavily reported in China.