Cathie Wood's Ark Invest Continues To Shed Coinbase, Nvidia Shares

Benzinga2024-04-16

On Monday, Cathie Wood-led Ark Invest made significant trades involving Coinbase Global Inc. and NVIDIA Corp.

The COIN Trade

Ark Invest decided to offload 3,689 shares of Coinbase from its ARK Next Generation Internet ETF (ARKW) fund. The value of the sold COIN shares, based on the closing price of $223.41 on Monday, amounts to approximately $824,000.

Last week, despite a recent rise in Bitcoin prices, Ark Invest sold asignificant amount of Coinbase shares, with back-to-back trades on certain days.

The NVDA Trade

Ark Invest also reduced its stake in NVIDIA Corp. from its ARK Genomic Revolution ETF (ARKG) fund by 157 units. The value of the sold Nvidia shares, based on the closing price of $860.01 on Monday, is approximately $135,000. This move comes despite a recent bullish prediction by a chart analyst, who suggested that NVIDIA ispoised for another upward move.

Other Key Trades:

Ark Invest bought shares of Teladoc Health Inc across its ARKF, ARKG, and ARKK funds. Shares of UiPath Inc were sold from the ARKG fund.
The ARKK fund saw a purchase of shares from Roku Inc and a sale of Draftkings Inc shares.

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