Benzinga | May 4, 2021 09:16AM EDT

Cathie Wood Loads Up More On Alibaba Rivals Pinduoduo, JD Also Adds Skillz

Cathie Wood-led Ark Investment Management on Monday bought more shares of Pinduoduo Inc (NASDAQ:PDD) and JD.com Inc (NASDAQ:JD) -- rivals to Alibaba Group Holding (NYSE:BABA) in the e-commerce and online groceries space in China.

Wood's firm has been piling up shares of Alibaba rivals, some of which now account for a better part of its holdings compared to the Jack Ma-led company whose shares have slumped over 20% since October 2020 over troubles with the Chinese government.

See Also: Cathie Wood Can't Get Enough Of These 3 Chinese Alibaba Rivals

The investment firm bought 126,988 shares of Chinese e-commerce giant Pinduoduo on Monday, estimated to be worth about $16.9 million as of the day's close.

Shares of Pinduoduo closed 0.37% lower at $133.43 on Monday.

The Ark Fintech Innovation ETF (NYSE:ARKF) made the trade on Monday. ARKF held a total of 573,550 PDD shares worth about $76.8 million and representing 1.85% weight of the ETF, ahead of Monday's trade.

The Shanghai-based company is known to be China's largest agriculture-based platform and had last year launched Duo Duo Grocery, a next-day grocery pickup service. Farmers list their fruits and vegetables for direct sale to consumers.

See also: How To Buy Alibaba Stock

The New York-based hedge fund also bought 143,481 shares, worth about $11.2 million, in JD.com. The Autonomous Technology & Robotics ETF (BATS: ARKQ) and the Space Exploration & Innovation ETF (BATS: ARKX) made the trades.

JD.com shares closed 0.44% lower at $77.02 on Monday and were down 0.42% in after-hours trading.

The Beijing-headquartered company runs one of the two massive B2C online retailers in China and is a major competitor to Alibaba-run Tmall.

Ark also piled up on mobile games platform company Skillz Inc (NYSE:SKLZ) -- buying 720,962 shares worth about $11.9 million. Skillz shares closed 5.71% lower at $16.52.

Wood has been buying the stock on dips and is bullish on the company despite a recent negative short seller report on its business model.

See Also: Why Cathie Wood Is Bullish On Skillz?

Other Ark Buys On Monday:

* StoneCo Ltd (NASDAQ:STNE)

* Recursion Pharmaceuticals (NASDAQ:RXRX)

* Repare Therapeutics Inc (NASDAQ:RPTX)

* UiPath Inc (NYSE:PATH)

* Zymergen Inc (NASDAQ:ZY)

* CM Life Sciences II Inc (NASDAQ:CMIIU)

* Ionis Pharmaceuticals Inc (NASDAQ:IONS)

* Iridium Communications (NASDAQ:IRDM)

* Twitter Inc (NYSE:TWTR)

* Beam Therapeutics Inc (NASDAQ:BEAM)

* Vuzix Corp (NASDAQ:VUZI)

* Unity Software Inc (NYSE:U)

* Galileo Acquisitions Corp (NYSE:GLEO)

* 3D Systems Corp (NYSE:DDD)

* Tencent Holdings Ltd (OTC:TCEHY)

* Fastly Inc (NYSE:FSLY)

* Roblox Corp (NYSE:RBLX)

Other Ark Sells On Monday:

* Intercontinental Exchange Inc (NYSE:ICE)

* Thermo Fisher Scientific Inc (NYSE:TMO)

* Roche Holding Ag (OTC:RHHBY)

* Regeneron Pharmaceuticals Inc (NASDAQ:REGN)

* Pluristem Therapeutics (NASDAQ:PSTI)

* Pure Storage Inc (NYSE:PSTG)

* Novartis Ag (NYSE:NV)

* Phreesia (NYSE:PHR)

* PACCAR (NASDAQ:PCAR)

* Baidu Inc (NASDAQ:BIDU)

* Teledyne Technologies Inc (NYSE:TDY)

* Trade Desk Inc (NASDAQ:TTD)

* Roku Inc (NASDAQ:ROKU)

* Silvergate Capital (NYSE:SI)

* Agora Inc (NASDAQ:API)

* Adyen NV (OTC:ADYEY)