Cathie Wood-led Ark Investment Management on Monday snapped up 28,989 shares of the Canadian e-commerce company Shopify Inc SHOP, worth about $33.8 million, as the stock jumped ahead of its scheduled earnings report later this week.
The investment firm’s Ark Innovation ETF ARKK bought the shares of the company that closed 6.1% higher at $1,166 on Monday.
The investment firm also sold 70,959 shares of the digital payment company Square Inc SQ estimated to be worth $18.15 million, as of Monday’s close.
Shopify caters to small and midsize businesses. The firm has two segments — subscription solutions (43% of fiscal 2018 revenue) and merchant solutions (57% of fiscal 2018 revenue).
ARKK sold shares of Square representing 0.25% of the ETF. Square is ARKK’s fourth-largest holding behind Tesla Inc TSLA, Teladoc Health Inc TDOC, and Roku Inc ROKU.
ARKK holds a total of 5.15 million shares, worth about $1.32 billion, and representing 5.29% of the ETF's weight.
The New York-based hedge fund also bought 76,288 shares of the cryptocurrency exchange Coinbase Global Inc COIN worth about $23.23 million on the stock’s Monday’s close.
The investment firm's ARK Next Generation Internet ETF ARKW made the trade. Shares of the company closed 4.44% higher at $304.54 on Monday, giving the cryptocurrency exchange a market cap of $60.66 billion.
Coinbase’s market cap has however climbed down from $85.8 billion on its blockbuster listing earlier this month.
ARKW holds a total of 1,749,240 shares of the cryptocurrency exchange worth about $154.8 million and representing 2.2% of the ETF’s weight.
See Also: Why Cathie Wood Is Bullish On Skillz
Other Ark Buys On Friday:
- UiPath Inc PATH
- Ionis Pharmaceuticals Inc IONS
- Zymergen Inc ZY
- TuSimple Holdings TSP
- Tencent Holdings TCEHY
- Pinduoduo Inc PDD
- JD.com Inc JD
- Iridium Communications IRDM
- Recursion Pharmaceuticals RXRX
- 908 Devices MASS
- Jaws Spitfire Acquisition SPFR
- Niu Technologies NIU
Other Ark Sells On Friday:
- Syros Pharmaceuticals SYRS
- Phreesia PHR
- Pluristem Therapeutics PSTI
- PACCAR PCAR
- Nvidia NVDA
- DocuSign DOCU
- Pure Storage Inc PSTG
- PayPal Holdings PYPL
- Taiwan Semiconductor Manufacturing Co TSM
- Xilinx Inc XLNX
- Silvergate Capital SI
- Agora Inc API
- LendingTree Inc TREE
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