Cathie Wood-led Ark Investment Management sold another 140,682 shares of the payments company Square Inc (NYSE:SQ), estimated to be worth $35.7 million as of Tuesday's close, as it looks to rebalance its portfolio.
The investment firm’s Ark Fintech Innovation ETF (NYSE:ARKF) sold 110,682 SQ shares and the Ark Next Generation Internet ETF (NYSE:ARKW) sold 30,000.
The hedge fund counts Square among its top five holdings. It is ARKF’s largest holding representing a 10.9% weight of the ETF, not accounting for Tuesday's trade. ARKF held a total of 1.81 million shares worth about $464.24 million, as of Tuesday morning.
Square is ARKW’s third-largest holding behind Tesla Inc (NASDAQ:TSLA) and Grayscale Bitcoin Trust (OTC:GBTC). ARKW held a total of 1.34 million shares, worth about $343.84 million, as of Tuesday.
Shares of Square last closed 0.77% lower at $253.79.
See Also: Why Square, PayPal Are Top Picks In The Fintech Space Ahead Of Earnings
The investment fund snapped up 85,411 shares of the cryptocurrency exchange Coinbase Global Inc (NASDAQ:COIN) worth about $25.8 million on the stock’s Tuesday’s close via its ARKW ETF.
Shares of the company closed 0.83% lower at $302 on Tuesday, giving the cryptocurrency exchange a market valuation of $60.16 billion.
Coinbase’s market cap has slipped from the highs of $85.8 billion on its blockbuster listing earlier this month.
Coinbase stood at the fifteenth position among a total of 54 other stocks in the ARKW portfolio, which holds a total of 508,321 shares of the cryptocurrency exchange worth about $154.8 million, representing 2.2% of the ETF’s weight.
See Also: Is Coinbase Stock A Buy Below $300?
Other Ark Buys On Tuesday:
- Meituan (OTC:MPNGY)
- JD.com Inc (NASDAQ:JD)
- Shopify Inc (NYSE:SHOP)
- Zymergen Inc (NASDAQ:ZY)
- Recursion Pharmaceuticals (NASDAQ:RXRX)
- 908 Devices (NASDAQ:MASS)
- CM Life Sciences II Inc (NASDAQ:CMIIU)
- Ionis Pharmaceuticals Inc (NASDAQ:IONS)
- TuSimple Holdings (NASDAQ:TSP)
- UiPath Inc (NYSE:PATH)
- Jaws Spitfire Acquisition (NYSE:SPFR)
- Tencent Holdings (OTC:TCEHY)
- Pinduodu Inc (NASDAQ:PDD)
- Iridium Communications (NASDAQ:IRDM)
Other Ark Sells On Tuesday:
- Intercontinental Exchange (NYSE:ICE)
- Syros Pharmaceuticals (NASDAQ:SYRS)
- Phreesia (NYSE:PHR)
- Pluristem Therapeutics (NASDAQ:PSTI)
- PACCAR (NASDAQ:PCAR)
- Nvidia (NASDAQ:NVDA)
- Facebook Inc (NASDAQ:FB)
- Atlassian Corp (NASDAQ:TEAM)
- Adobe Inc (NASDAQ:ADBE)
- Synopsys Inc (NASDAQ:SNPS)
- Roku Inc (NASDAQ:ROKU)
- Adyen NV (OTC:ADYEY)
- Hubspot Inc (NYSE:HUBS)
- Teradyne Inc (NASDAQ:TER)
- Pure Storage Inc (NYSE:PSTG)
- Xilinx Inc (NASDAQ:XLNX)
- Silvergate Capital (NYSE:SI)
- Agora Inc (NASDAQ:API)
- LendingTree Inc (NASDAQ:TREE)
See also: How to Buy Square (SQ) Stock
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