Cathie Wood's Ark Invest Sheds Another $35M In Square, Snaps $19M in Roku


Cathie Wood-led Ark Invest on Friday shed another 127,800 shares, estimated to be worth about $35.16 million, in Square Inc SQ, booking more profits as the stock recorded a 10% weekly gain.

SQ shares closed 2.38% lower at $275.10 on Friday but surged 11.3% in the week after a solid earnings beat. The Jack Dorsey-led financial services and digital payment company said it had agreed to purchase buy-now, pay-later company Afterpay in an all-stock deal valued at $29 billion.

Ark Invest deployed both Ark Innovation ETF ARKK to sell Square shares on Friday. The investment firm also holds a position in Square via the Ark Next Generation Internet ETF ARKW and the Ark Fintech Innovation ETF ARKF.

See Also: Square Scores With Afterpay Acquisition And Bitcoin Revenue, But Cathie Wood Sells The News. What To Do In Case She Was Right.

Together, the three ETFs held about 6.57 million shares, worth $1.85 billion, in Square ahead of Friday’s trade. A week ago, just before the shares surged, Ark Invest held over 7 million shares, worth $1.74 billion in Square.

The New York-based investment management firm also bought 48,880 shares, estimated to be worth about $19.14 million, in Roku Inc ROKU, on the dip — the second straight buy after three months of selling its positions in the streaming media player.

Roku shares closed 2.98% lower at $391.47 on Friday.

See Also: Roku Stock Pulls Back After Q2 Earnings: Has Streaming Growth Peaked?

Ark Invest deployed ARKK to buy shares in the San Jose, California-based company on Friday and also holds positions via the Ark Next Generation Internet ETF ARKW.

Together the two ETFs held 3.87 million, worth $1.56 billion, in Roku ahead of Friday’s trade. 

Some of the other key Ark Invest buys on Friday included UiPath Inc PATH and sells included Signify Health Inc SGFY.

See also: How to Buy Roku Stock

Market News and Data brought to you by Benzinga APIs
Posted In: Long IdeasSector ETFsBroad U.S. Equity ETFsTrading IdeasETFsAfterpayARK InvestCathie WoodJack DorseyStreaming Video On DemandSVOD
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!