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Cathie Wood’s Ark Buys the DIp in Zillow

  • Flagship innovation fund added shares amid Tuesday retreat
  • ARKK owns more than $600 million stake of company in turmoil
The Zillow app
Photographer: Tiffany Hagler-Geard/Bloomberg

Cathie Wood’s flagship exchange-traded fund pounced on a huge slump in Zillow Group Inc. to add more shares of the embattled real estate company.

The ARK Innovation ETF (ticker ARKK) bought 288,813 shares of the property firm on Tuesday, according to the daily trading update from Wood’s Ark Investment Management. Zillow plunged over 10% on the day after pulling the plug on its tech-powered home-flipping operation.