🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Cathie Wood's Ark Invest Sells Another Tranche Of Block Shares, Even As Bitcoin Price Stages A Recovery

Published 21/03/2024, 03:40
© Reuters.  Cathie Wood's Ark Invest Sells Another Tranche Of Block Shares, Even As Bitcoin Price Stages A Recovery
CERS
-
BTC/USD
-
ARKK
-
ARKW
-
SQ
-
MRNA
-
PSNL
-

Benzinga - On Wednesday, Cathie Wood-led Ark Invest made a significant move by offloading shares of Block Inc (NYSE:SQ) amidst Bitcoin (CRYPTO: BTC) prices recovering.

The Block Inc Trade

The sale, worth $3.5 million, was executed through Ark's flagship ARK Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW) with a total of 42,608 shares sold. The value of the trade, calculated from the latest closing price of $81.46. Notably, at the time of writing, Bitcoin traded nearly 6.6% higher at $67,330.71.

Ark has sold Block shares in every trading session of the current week. On Monday, Ark sold Block shares worth $8.95 million and on Tuesday, the firm sold $7.5 million worth. For the week, including Wednesday’s sale, the total stands at $19.95 million.

Notably, Wood came to the defense of Block when the short seller Hindenburg issued an adverse report against the company.

Other Key Trades:

Ark Invest bought shares of Cerus Corp (NASDAQ:CERS). The firm also bought shares of Personalis Inc (NASDAQ:PSNL).

Ark also purchased shares of Moderna Inc (NASDAQ:MRNA) through its ARKK fund. Shares of Twilio Inc (NYSE:TWLO) were sold from both the ARKK and ARKW portfolios.

Read Next: Whopping $33.8 Million Worth Of Dogecoin Shifted To Robinhood — And People Suspect This Person Could Be Behind It

Engineered by Benzinga Neuro, Edited by

Shivdeep Dhaliwal

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you.

Learn more.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.