Cathie Wood’s Ark Invest picks up $15.4 million in Robinhood shares and more of its own Bitcoin ETF
The Block
Ark Invest purchased $15.4 million in Robinhood shares and $417,000 of its own Bitcoin ETF (ARKB) across its funds.Summary
Cathie Wood's Ark Invest acquired 124,427 Robinhood (HOOD) shares, valued at about $15.4 million, across its Ark Innovation ETF (ARKK) and Ark Next Generation Internet ETF (ARKW) on Thursday, following a 9.1% drop in HOOD's stock price. This move is part of Ark's ongoing portfolio rebalancing strategy, which aims to keep individual holdings below 10% of a fund's total value. Currently, HOOD is the seventh-largest holding in both ARKK and ARKW. Additionally, Ark bought 13,700 shares of its own spot Bitcoin ETF, ARKB, worth approximately $417,000, for its ARKW and Ark Fintech Innovation funds, despite ARKB experiencing net outflows that day.
(Source：The Block)