Home Stock Market ARK bought an additional $ 64 million in Coinbase shares, sold $...

ARK bought an additional $ 64 million in Coinbase shares, sold $ 99.5 million in Tesla shares


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(Reuters) – Cathie Wood’s ARK fund bought more shares in crypto exchange Coinbase Global Inc on Friday while selling shares of electric car maker Tesla (NASDAQ :), according to the delivery summary. daily translation of the company.

ARK on Friday bought 187,078 shares of Coinbase, which launched on the Nasdaq earlier this week, for nearly $ 64 million at an intraday closing price of $ 342.

It sold 134,541 shares of Tesla, worth $ 99.5 million at the end of Friday. Tesla remains by far the largest position for the company by value across its large funds.

The funds added are the flagship ARK Innovation fund, the Next Generation Internet ETF, and the Fintech Innovation ETF.

Coinbase purchases add 341,186 shares bought on Thursday and 749,205 bought on Wednesday.

ARK sold Tesla stock from its flagship fund and its Next Generation Internet ETF.

Betting on Coinbase gives ARK more indirect exposure to crypto in addition to big bets on Tesla, the company recently invested in bitcoin and said it will accept cryptocurrency as pay for your car.

Last year, the famous fund manager Wood became famous among retail investors and attracted a steady stream of cash into his hot funds.

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