Ark Invest has poured another $51 million into SpaceX shares, pushing its total investment in the private space company past $475 million since the June IPO. The purchases were made during the week ending July 10, according to the firm's latest disclosures.
A $51 million week
The $51 million buy represents a significant weekly addition to Ark's SpaceX position. The investment firm has been steadily accumulating shares since the company went public in June. The exact number of shares purchased was not disclosed, but the dollar amount is one of the larger weekly investments Ark has made in the company.
Building a position since June
Ark Invest's total investment in SpaceX has now exceeded $475 million. That figure covers all purchases made since the June initial public offering. SpaceX, founded by Elon Musk, is one of the most valuable companies in the world, and Ark has been one of its most visible institutional investors.
Ark Invest has not disclosed its exact ownership stake or the price per share it paid. The firm has not indicated whether it plans to continue adding to its position. The next regulatory filing will show if the buying spree has continued.
