Ark Funds Add More Coinbase, Offload Some Tesla
Here's the rundown on the trades.
- ARK bought 187,078 shares of Coinbase.
- That amounts to nearly $64 million at the day’s closing price of $342.
- The funds went into the flagship ARK Innovation ETF (NYSE:ARKK), as well as into the ARK Next Generation Internet ETF (NYSE:ARKW) and the Ark Fintech Innovation ETF (NYSE:ARKF).
- Ark bought almost 1 million shares of Coinbase earlier in the week.Ark sold off 134,541 shares of Tesla — worth $99.5 million at Friday's close.
- The Tesla shares came out of the ARK Innovation fund and the Next Generation Internet ETF.
- The trades follow a pattern Ark set earlier in the week on these two stocks.
Image: Courtesy of Coinbase
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