Cathie Wood Cuts Apple Stake By 30% And Buys Coinbase, DraftKings

Cathie Wood-led Ark Investment Management shed more shares of Apple Inc AAPL on Monday, just days after halving its stake in the maker of iPhones and iPads, and snapped up shares of cryptocurrency exchange Coinbase Global Inc COIN and daily fantasy sports company DraftKings Inc DKNG

The investment firm sold 87,560 Apple shares, worth about $11.1 million, of the 289,630 shares it owned, as of the day’s close via its ARK Innovation ETF ARKF. No other Ark ETF has a position in Apple.

See Also: Cathie Wood Slashes Apple Stake To Half — Also Trims Google, Fastly: What You Need To Know

Shares of the Cupertino, California-based company closed 2.58% lower at $126.85 on Monday and were further down 0.42% in after-hours trading. ARKF shares closed 4.84% lower at $47.02.

The New York-based investment firm snapped up another 33,300 shares, worth about $9.77 million, of cryptocurrency exchange Coinbase via ARKF.

Related link: How To Buy Apple Stock

Coinbase shares closed 11.3% higher at $293.45 on Monday. ARKF held 194,232 shares, worth about $51.2 million, ahead of Monday’s trade.

The investment firm also bought over half a million shares, estimated to be worth $38.6 million, in the daily fantasy sports company DraftKings Inc. DKNG via the Ark Innovation ETF ARKK and the ARK Next Generation Internet ETF ARKW.  

See Also: DraftKings Stock Investors Pull Back After Q1 Earnings: What Do Analysts Think?

DKNG shares closed 6.36% lower at $45.34 on Monday.

Other Ark Buys On Monday:

  • Twilio Inc TWLO
  • Uipath Inc PATH
  • Repare Therapeutics Inc RPTX
  • Surface Oncology Inc SURF
  • Veracyte Inc VCYT
  • 908 Devices Inc MASS
  • Ionis Pharmaceuticals Inc INOS
  • Fate Therapeutics Inc FATE
  • Adaptive Biotechnologies Corp ADPT
  • CareDx Inc CDNA
  • Codexis Inc CDXS
  • CM Life Sciences II Inc CMII
  • Palantir Technologies Inc PLTR
  • Berkeley Lights Inc BLI
  • 10x Genomics Inc TXG
  • TuSimple Holdings TSP
  • Beam Therapeutics BEAM
  • Teradyne Inc TER
  • Kratos Defense & Security Solutions Inc KTOS
  • One AONE
  • Iridium Communications Inc IRDM
  • Trade Desk Inc TTD
  • Nano Dimension Ltd NNDM
  • Pinduoduo Inc PDD
  • The 3D Printing ETF PRNT

Other Ark Sells On Monday:

  • Yeahka Ltd YHEKF
  • Silvergate Capital Corp SI
  • Takeda Pharmaceutical Co Ltd TAK
  • Roche Holding Ag RHHBY
  • Nanostring Technologies Inc NSTG
  • Sarepta Therapeutics Inc SRPT
  • Phreesia Inc PHR
  • Lendingtree Inc TREE
  • KE Holdings BEKE
  • Synopsys Inc SNPS
  • Regeneron Pharmaceuticals Inc REGN
  • Nintendo Co Ltd NTDOY
  • Intercontinental Exchange Inc ICE
  • Huya Inc HUYA
  • Baidu Inc BIDU
  • Teledyne Technologies Inc  TDY
  • Virgin Galactic Holdings Inc SPCE
  • Komatsu Ltd KMTUY
  • Opendoor Technologies OPEN
  • Agora Inc API
  • Adyen Nv ADYEY
Posted In: CryptocurrencySector ETFsSmall CapMarketsTrading IdeasETFsARK Investment ManagementBitcoinCathie WoodiPhonesports betting