Cathie Wood's Ark Innovation ETF added 1.2 million shares of Palantir as the stock slipped to its lowest price in nearly 4 months

<p><img src="https://static1.businessinsider.com/image/60119de56dfbe10018e00431-2400/cathie wood ceo ark invest profile 2x1.png" border="0" alt="cathie wood ceo ark invest profile 2x1" data-mce-source="David McNew/AFP via Getty; ARK Invest; Patricia De Melo Moreira/AFP via Getty; Bitcoin; Samantha Lee/Insider"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul><li aria-level="1"><strong>Cathie Wood's flagship fund added 1.2 million shares of Palantir on Wednesday as the stock slid 6%.&nbsp;</strong></li><li aria-level="1"><strong>Wood's Ark Innovation ETF now holds 10.8 million shares of the data company.&nbsp;</strong></li><li aria-level="1"><strong>Palantir saw its lowest closing price in almost four months on Wednesday, at $21.88.</strong></li><li aria-level="1"><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest"><strong>Sign up here for our daily newsletter, 10 Things Before the Opening Bell.</strong></a></li></ul><hr><p>Cathie Wood's flagship fund bought the dip in <a href="https://markets.businessinsider.com/stocks/pltr-stock">Palantir</a> on Wednesday, ETF records show. <br><br><a href="https://markets.businessinsider.com/etfs/ark-innovation-etf-us00214q1040">Wood's Ark Innovation ETF</a> added roughly 1.2 million shares of Palantir as the stock sank&nbsp; to $21.88, its lowest closing price since November 23.&nbsp;</p><p>As of Wednesday's close, the exchange-traded fund holds 10.8 million shares of Palantir worth $251 million. The data surveillance company makes up 1.07% of the Ark Innovation ETF.&nbsp;</p><p>Shares of Palantir closed down nearly 6% on Wednesday and continued to slide in premarket trading Thursday but reversed course after the opening bell. Palantir jumped as high as 1.9% to $22.30 Thursday morning.<br><br>The data company has fallen 17% in the last month <a href="https://markets.businessinsider.com/news/stocks/palantir-stock-price-analysis-lockup-expiration-cathie-wood-soros-fund-2021-2-1030097725">amid a lockup expiration</a> that's prompted profit-taking from company insiders.&nbsp;</p><p><a href="https://www.cnbc.com/2021/02/17/cathie-wood-adds-to-her-bet-on-palantir-saying-ceo-comments-are-music-to-her-ears.html">In a CNBC interview in February</a>, Wood explained that her Palantir trade is a long-term bet. She also praised CEO Alex Karp's plan to forfeit short-term profits and invest aggressively in the future.&nbsp;</p><p>"It's exactly how we invest. We want our companies to invest aggressively. We don't want profits now," the investing titan told CNBC.&nbsp;<br><br></p><p><a href="https://markets.businessinsider.com/news/stocks/cathie-wood-arkk-etf-palantir-stock-price-buy-dip-pltr-2021-3-1030246321#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/what-its-like-travel-during-coronavirus-outbreak-planes-airports-virus-2020-3">Here's what it's like to travel during the coronavirus outbreak</a></p>
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