{"id":163181,"date":"2021-02-02T09:11:53","date_gmt":"2021-02-02T17:11:53","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=163181"},"modified":"2021-02-02T12:36:42","modified_gmt":"2021-02-02T20:36:42","slug":"draftkings-stock-finds-way-into-famed-ark-internet-etf","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/draftkings-stock-finds-way-into-famed-ark-internet-etf\/","title":{"rendered":"ARK Investment Management Adds DraftKings to Internet ETF Roster"},"content":{"rendered":"

ARK Investment Management is showing it’s a believer in the online sports betting investment thesis, adding DraftKings stock (NASDAQ:DKNG) to one of its exchange traded funds (ETFs).<\/p>\n

\"ARK
ARK Invest founder Cathie Wood, seen here. Her firm added DraftKings stock to one of its ETFs. (Image: Yahoo Finance<\/em>)<\/figcaption><\/figure>\n

On Monday, the asset manager purchased 620,300 shares of the daily fantasy sports (DFS) company, adding the stock to its ARK Next Generation ETF (NYSEARCA:ARKW).<\/p>\n

“Companies within ARKW are focused on and expected to benefit from shifting the bases of technology infrastructure to the cloud, enabling mobile, new and local services, such as companies that rely on or benefit from the increased use of shared technology, infrastructure and services, internet-based products and services, new payment methods, big data, the internet of things, and social distribution and media,\u201d according to ARK Invest<\/a>.<\/p>\n

The actively managed fund has $5.27 billion in assets under management as of the end of 2020. Over the past three years, ARKW returned 273.3 percent. The combined returns of the S&P 500 and the S&P 500 Technology Index would need to be doubled to top the ARK fund over that span<\/strong>.<\/p>\n

Warming to Betting, Gaming Stocks<\/h2>\n

ARK has discretion over what securities are included in ARKW because the fund is actively managed. Whereas index-based internet funds are usually heavily allocated to the likes of Amazon, Alphabet and Facebook, ARKW can add names like DraftKings before the shares are included in widely followed equity benchmarks<\/a>.<\/p>\n

\n

Recently, Cathie Wood’s New York-based asset management firm signaled bullishness for the long-term growth trajectories of the DFS, esports, and sports wagering<\/a> industries. In a note out last month, ARK analyst Nicholas Grous says the three sports betting categories combined could notch a compound annual growth rate (CAGR) of 31 percent from 2019 through 2025. He estimates the handle for online sports betting will surge to $180 billion in 2025 from $18 billion in 2019.<\/p>\n<\/div>\n

\u201cSince it legalized online sports betting in mid-2018, for example, New Jersey\u2019s online handle has totaled $12 billion, half of which took place in 2020,\u201d<\/strong> said Grous.<\/p>\n

\u201cBased on the $12 billion, we believe New Jersey has earned $100 million in taxes and enabled sports betting companies to generate $750 million in revenue,” she continued. “In the last two weeks, both New York<\/a>\u00a0and\u00a0Texas<\/a> have weighed in favorably on the prospective approval of online sports betting and, given their desperate need to plug gaping deficits, other states seem likely to follow.\u201d<\/p>\n

DraftKings Stock Second Gaming Name in ARKW<\/h2>\n

DraftKings stock isn’t the only gaming name in ARKW. ARK previously added Skillz Inc.<\/a> (NYSE:SKLZ), a mobile gaming and esports provider, to the ETF.<\/p>\n

That pair combined for about one percent of the fund’s roster and are the two smallest positions of the 56 holdings in the fund, according to issuer data. Tesla is ARKW’s largest component at 9.74 percent of the fund’s weight.<\/p>\n

Including ARKW, ARK manages five active ETFs. Of that quintet, the internet fund and the ARK Innovation ETF (NYSEARCA:ARKK) are the most logical homes for names such as DraftKings and Skillz<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

ARK Investment Management is showing it’s a believer in the online sports betting investment thesis, adding DraftKings stock (NASDAQ:DKNG) to one of its exchange traded funds (ETFs). On Monday, the asset manager purchased 620,300 shares of the daily fantasy sports (DFS) company, adding the stock to its ARK Next Generation ETF (NYSEARCA:ARKW). “Companies within ARKW […]<\/p>\n","protected":false},"author":46,"featured_media":163182,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[],"acf":[],"yoast_head":"\nDraftKings Stock Finds Way Into Famed ARK Internet ETF<\/title>\n<meta name=\"description\" content=\"ARK Investment Management adds DraftKings stock to hot internet fund, second gaming stock on the roster.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/draftkings-stock-finds-way-into-famed-ark-internet-etf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DraftKings Stock Finds Way Into Famed ARK Internet ETF\" \/>\n<meta property=\"og:description\" content=\"ARK Investment Management adds DraftKings stock to hot internet fund, second gaming stock on the roster.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/draftkings-stock-finds-way-into-famed-ark-internet-etf\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-02T17:11:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-02T20:36:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/02\/cw.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1562\" \/>\n\t<meta property=\"og:image:height\" content=\"1042\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-stock-finds-way-into-famed-ark-internet-etf\/\",\"url\":\"https:\/\/www.casino.org\/news\/draftkings-stock-finds-way-into-famed-ark-internet-etf\/\",\"name\":\"DraftKings Stock Finds Way Into Famed ARK Internet ETF\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-stock-finds-way-into-famed-ark-internet-etf\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-stock-finds-way-into-famed-ark-internet-etf\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/02\/cw.png\",\"datePublished\":\"2021-02-02T17:11:53+00:00\",\"dateModified\":\"2021-02-02T20:36:42+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"ARK Investment Management adds DraftKings stock to hot internet fund, second gaming stock on the roster.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-stock-finds-way-into-famed-ark-internet-etf\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/draftkings-stock-finds-way-into-famed-ark-internet-etf\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-stock-finds-way-into-famed-ark-internet-etf\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/02\/cw.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/02\/cw.png\",\"width\":1562,\"height\":1042,\"caption\":\"ARK Invest founder Cathie Wood. 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