MarketWatch.com:
Funds associated with Cathie Wood’s ARK Investment continued to cull shares of Coinbase Global Inc. and Tesla Inc. on Monday, according to recent trade disclosures.
The ARK Fintech Innovation ETF ARKF, -0.35% dumped 76,788 Coinbase shares COIN, 2.36% on the day, while the ARK Innovation ETF ARKK, 0.70% sold 127,266 and the ARK Next Generation Internet ETF ARKW, +0.41% sold 44,784 shares.
Those were worth $26.3 million based on Coinbase’s Monday closing price of $105.55, and the sales follow ARK’s move to dump about $50 million in Coinbase’s stock Friday.
Coinbase represents 0.78% of the Fintech Innovation ETF, along with 0.15% of the Innovation ETF and 0.30% of the Next Generation Internet ETF. ARK disclosed the transactions and weightings in the daily trade notifications it posts to its website.
Meanwhile, the ARK Innovation ETF shed 38,329 Tesla shares TSLA, 0.36% on Monday, while the ARK Next Generation Internet ETF sold 6,855. Those shares were worth $13.1 million based on Tesla’s Monday closing level of $290.38. Tesla represents about 0.12% of both funds as they continue to unload shares.
ARK scooped up 455 shares of Meta Platforms Inc. META, 0.57% within its Next Generation Internet ETF and bought up 3,729 shares within the ARK Innovation ETF. That amounted to $1.3 million worth of stock based on Meta’s $310.62 Monday close.
Two ARK funds bought a combined $790 million in Robinhood Markets Inc.’s stock HOOD, 2.98%, with the fintech fund scooping up 25,641 shares and the Next Generation Internet ETF buying 37,630 shares. ARK added 4,608 shares of SoFi Technologies Inc. SOFI, 1.74% to the fintech fund, worth $43,683 based on Monday’s close.
ARK was also active in shares of Twilio Inc. TWLO, 1.79%, buying 15,702 within the Fintech Innovation ETF, 133,499 within the Innovation ETF and 22,748 within the Next Generation Internet ETF. That amounted to $11.4 million in Twilio’s stock based on Monday’s $66.47 closing price.
READ MORE at MarketWatch.com
