A couple of the ARK exchange-traded funds run by ETF star Cathie Wood made huge purchases on Monday. These funds bought over 95,000 shares of Coinbase Global Inc. (NASDAQ: COIN), as the share prices of these ETFs dropped over 3% on Monday. Note that these ETFs are still up handily in the last year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 66,894 shares of Coinbase, while ARK Fintech Innovation ETF (NYSEARCA: ARKF) bought 29,357 shares. At Monday’s closing prices, this would have valued these purchases at $9.27 million. Even though this is a small fraction of the total holdings, every little bit counts. The innovation ETF is up 36% and the fintech ETF is up 31% in the past year.
Check out all of ARK Invest’s buys for Monday:
|ARKK||ZM||ZOOM VIDEO COMMUNICATIONS||54,479|
|ARKQ||KTOS||KRATOS DEFENSE & SECURITY SOLUTIONS||79,891|
|ARKX||BLDE||BLADE AIR MOBILITY||37,022|
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St., owner of 247wallst.com.
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