After a significant acquisition of Coinbase shares in a market downturn, ARK Invest has sold a portion of its Coinbase holdings for the second time this week. Meanwhile, Wood’s company is actively investing in stocks of Meta Platforms and Robinhood Markets.
Transaction data reveals that on July 14th, ARK Invest sold a total of 478,356 Coinbase shares worth $53 million, coinciding with the stock’s annual high of $114.43.
In the transactions, Wood’s flagship fund, ARK Innovation ETF, sold 263,247 Coinbase shares, ARK Next Generation Internet ETF sold 93,227 Coinbase shares, and ARK Fintech Innovation ETF sold 35,666 shares of the exchange.
In June, Wood started buying shares of Meta Platforms after the company announced the launch of Threads, a social networking app similar to Twitter. ARK Innovation ETF purchased 69,793 Meta shares, while ARK Fintech Innovation ETF bought 111,843 shares of Robinhood. Additionally, ARK Next Generation Internet ETF increased its holdings with 12,559 Meta shares and 169,116 Robinhood shares.