Why Twilio Stock Climbed Higher Today
Shares of Twilio (NYSE: TWLO) climbed higher today, up by 5% as of 11:30 a.m. EDT, after widely followed institutional investor Cathie Wood of ARK Invest started to accumulate more shares. The stock took a significant hit during the broad pullback in the tech sector in recent weeks but has started to recover.
ARK has a unique practice of disclosing trades within its actively managed ETFs on a daily basis, and last night's notification shows that two ARK funds scooped up Twilio. ARK Next Generation Internet (NYSEMKT: ARKW) bought 62,702 shares for a portfolio weighting of approximately 0.3%, while the flagship ARK Innovation (NYSEMKT: ARKK) fund acquired over 112,500 shares for a portfolio weighting of around 0.17%. The trading disclosures do not indicate at what prices the transactions occurred, but Twilio shares had a range of $361.01 to $369.97 yesterday.
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Source Fool.com
