Cathie Wood-led Ark Invest on Tuesday rushed to buy shares in Zoom Video Communications Inc. (ZM), on the day shares of the video calling company plunged over concerns of business' growth slowing as businesses and schools reopen.

The popular investment firm bought 194,080 Zoom shares — estimated to be worth about $56.19 million. ZM shares closed 16.7% lower at $289.50 on Tuesday.

The New York-based investment firm bought shares in Zoom via the Ark Innovation ETF (ARKK) and the Ark Next Generation ETF (ARKW).

No other ETF holds shares in Zoom.

The video calling company is among Wood’s bets that have done well amid the rise in remote work and learning induced by the COVID-19 pandemic last year.

The two ETFs held 3.38 million shares, worth $1.18 billion, ahead of Tuesday's trade. 

Zoom is the sixth-largest holding in ARKK, behind Tesla Inc (TSLA) and Teladoc Health Inc (TDOC) among others in a portfolio of 46 stocks.

Here are some of the other key trades for Ark on Tuesday:

Snapped up 260,084 shares — estimated to be worth about $11.53 million — in Robinhood Markets Inc (HOOD) on the day its shares closed 1.56% higher at $44.32. 

Bought 86,248 shares — estimated to be worth about $3.97 million — in Pfizer Inc (PFE) on the dip. Shares of the pharma company closed 1.48% lower at $46.07 on Tuesday.

Bought 18,544 shares  — estimated to be worth about $2.68 million — in Teladoc Health. Shares of the telemedicine company closed marginally higher at $144.42 on Tuesday.

Sold 58,259 shares  — estimated to be worth about $13 million — in NVIDIA Corp (NVDA). Shares of the semiconductor company closed 1.32% lower at $223.85 on Tuesday.