Cathie Wood Cut Stake In This Bitcoin-Linked Fintech On Monday: Here’s What She Bought Instead – Bitcoin – United States Dollar ($ BTC)


Cathie Wood– led Ark Investment Management on Monday decreased its direct exposure in Block Inc ( NYSE: SQ), the cash supervisor’s very first selling of the crypto-linked fintech stock this year.

The popular financial investment company offered 281,910 shares– approximated to be worth $38 million since their last close– in the Jack Dorsey– led digital payments and monetary services business.

Block closed 4.12% lower at $134.8 a share onMonday The stock is down 18% year-to-date.

Ark Invest has actually been accumulating shares in Block for months together with buys in Coinbase Global Inc ( NASDAQ: COIN) and Robinhood Markets Inc ( NASDAQ: HOOD).

St Petersburg, Florida- based Ark Invest held 80.08 million shares in Block prior to Monday’s trade.

The newest sell represents a 3.8% reduction in Ark Invest’s stake in Block.

Ark Invest holds shares in Block by means of 3 of its 6 actively traded exchange funds, particularly the Ark Fintech Innovation ETF ( NYSE: ARKF), the Ark Next Generation Internet ETF ( NYSE: ARKW), and the Ark Innovation ETF ( NYSE: ARKK).

See Also: Cathie Wood Raised Exposure In These Three Crypto-Linked Fintech Stocks On Monday

Block ranks amongst the leading 5 holdings behind Tesla Inc ( NASDAQ: TSLA), Teladoc Health Inc ( NYSE: TDCO), Roku Inc ( NASDAQ: ROKU), and Zoom Video Communications Inc ( NASDAQ: ZM) in the cash handling company’s portfolio.

Block (previously Square) reported almost $2 billion from Bitcoin ( CRYPTO: BTC) profits, a dive of 12% year-on-year for the 4th quarter. The payments business had actually then stated in the lack of COVID-19 federal government stimulus, the momentum in its consumer-focused digital wallet Cash App would decrease significantly.

See Also: Why Is Block Inc Surging After Hours? A Closer Look At Q4 Earnings

Ark likewise purchased 32,635 shares– approximated to be worth $22.3 million– in Shopify Inc ( NYSE: SHOP). The stock closed 1.4% lower at $683.45 a share on Monday.

Photo courtesy: Block Inc



Source link .

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Want To Stay Updated On the Latest Crypto News? Get the all the important news in Crypto, NFTs & all things Metaverse Instantly! No Yes

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.