Cathie Wood Trims Nvidia, Shopify Stakes And Piles Up Another $7M In Bitcoin Play Coinbase

Cathie Wood-led Ark Investment Management on Tuesday shed 785 shares, estimated to be worth about $635,850, in chipmaker Nvidia Corp NVDA

Shares of Nvidia, which have risen 54.4% so far this year, closed 1.28% lower at $810 on Tuesday. 

The New York-based investment firm deployed the ARK Space Exploration & Innovation ETF ARKX to sell the shares of Nvidia. Ark Invest also holds shares of the chipmaker via the Autonomous Technology & Robotics ETF ARKQ.

See Also: Micron, Nvidia, AMD, TSMC, Or Intel? One Semiconductor Stock Emerged As Clear Winner In 2021 First-Half Gains

Together the two ETFs held 62,437 NVDA shares, worth $50.57 million, as of Tuesday’s trades.

The popular investment firm also shed 16,034 shares, estimated to be worth about $24.3 million, in the Canadian e-commerce company Shopify Inc SHOP.

Shopify shares closed 1.44% higher at $1,516.47 on Tuesday.

The investment firm sold the shares of Shopify via the Ark Next Generation Internet ETF ARKW on Tuesday and also holds the stock via the Ark Innovation ETF ARKK and the Ark Fintech Innovation ETF ARKF

Together, the three ETFs held 1.08 million shares, worth $1.64 billion, in Shopify as of Tuesday’s trades. 

The investment firm snapped up 27,844 shares, estimated to be worth about $6.77 million, in cryptocurrency exchange desk Coinbase Global Inc COIN, on the dip.

Shares of the cryptocurrency exchange closed 1.76% lower to $243.31 on Tuesday.

Goldman Sachs earlier this week noted that even if the prices of Bitcoin BTC/USD and other cryptocurrencies were to see further dips, Coinbase will continue to benefit from the volatility.

Ark Invest deployed ARKW to buy the shares of the company on Tuesday and also holds the stock via ARKK and ARKF. 

Together, the three ETFs held 5.3 million shares, worth $1.29 billion in Coinbase as of Tuesday’s trades. 

Some of the other key Ark Invest sells on Tuesday include JD.COM Inc JD and buys include UiPath Inc PATH.

Posted In: ARK Investment ManagementBitcoinCathie Woodchipmakerse-commerceCryptocurrencyLong IdeasSector ETFsShort IdeasMarketsTrading IdeasETFs

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.