ARK Investment Continues to Reduce Holdings in Coinbase and Tesla


Funds associated with Cathie Wood’s ARK Investment have continued to decrease their holdings in Coinbase Global Inc. and Tesla Inc., as per recent trade disclosures.

The ARK Fintech Innovation ETF (ARKF) sold off 76,788 shares of Coinbase (COIN) on Monday. Additionally, the ARK Innovation ETF (ARKK) sold 127,266 shares, and the ARK Next Generation Internet ETF (ARKW) sold 44,784 shares.

Based on Coinbase’s closing price of $105.55 on Monday, the total worth of these shares amounts to $26.3 million. This follows ARK’s decision to divest approximately $50 million in Coinbase stock on Friday.

Coinbase currently represents 0.78% of the Fintech Innovation ETF’s portfolio, 0.15% of the Innovation ETF’s portfolio, and 0.30% of the Next Generation Internet ETF’s portfolio. Detailed information about these transactions and the respective weightings can be found in the daily trade notifications posted on ARK’s website.

In other news, the ARK Innovation ETF also sold 38,329 shares of Tesla on Monday, while the ARK Next Generation Internet ETF sold 6,855 shares. With Tesla’s closing level at $290.38 on Monday, these shares were valued at approximately $13.1 million. Tesla currently represents around 0.12% of the holdings in both funds as they continue to reduce their positions.

Read: Coinbase’s Stock Surges Following Ripple Ruling Sparking Debate

Massive Investments by ARK Funds

ARK, the renowned investment management firm, has made substantial moves in the stock market recently. In particular, they have captured the attention of many by acquiring a significant number of shares in various companies.

Meta Platforms Inc. (META)

Within its Next Generation Internet ETF, ARK managed to grab 455 shares of Meta Platforms Inc. This move was further backed up by the acquisition of 3,729 shares within the ARK Innovation ETF. Overall, this amounted to a substantial $1.3 million investment based on Meta’s Monday close of $310.62.

Robinhood Markets Inc. (HOOD)

ARK funds also demonstrated significant interest in Robinhood Markets Inc., investing a combined total of $790 million in its stock. The fintech fund obtained 25,641 shares, while the Next Generation Internet ETF acquired 37,630 shares.

SoFi Technologies Inc. (SOFI)

Adding to their fintech portfolio, ARK purchased 4,608 shares of SoFi Technologies Inc.’s stock. This investment was valued at approximately $43,683 based on Monday’s closing price.

Twilio Inc. (TWLO)

ARK’s presence in the market extended to Twilio Inc., where notable amounts of shares were bought across multiple funds. The Fintech Innovation ETF acquired 15,702 shares, the Innovation ETF purchased 133,499 shares, and the Next Generation Internet ETF secured 22,748 shares. This investment in Twilio reached a remarkable $11.4 million based on Monday’s closing price of $66.47.

ARK’s recent investments have surpassed expectations and indicate their belief in the future growth potential of these companies. It will be intriguing to witness the outcomes and evaluate the impact of these significant moves on the overall market landscape.

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