Cathie Wood’s Ark Invest Continues to Actively Manage Its Portfolio
Ark Invest has recently made significant adjustments to its portfolio, including offloading holdings of Coinbase and Grayscale Bitcoin Trust while accumulating Robinhood shares.
Coinbase:
- On December 5th, Ark Invest sold a combined 237,572 Coinbase shares across its ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF), worth approximately $34 million.
- This adds to the 300,000 Coinbase shares divested by Ark Invest since last month, despite the recent surge in Coinbase stock price.
- Despite a slight dip, Coinbase stock remains up 16% in a week and 63% in a month.
Grayscale Bitcoin Trust:
- Ark Investment sold 168,127 GBTC shares worth $6 million through ARKW on December 5th, bringing the total to over 800,000 shares offloaded since October.
- While the GBTC price has experienced 330% year-to-date growth, it closed 4.35% higher on Tuesday but is trading slightly lower in premarket hours.
Robinhood:
- Ark Invest remains bullish on Robinhood, accumulating shares and anticipating substantial rally in this bull market.
- ARKF purchased 9,586 Robinhood shares as the price crossed the $10 mark, further adding to its purchase of 14,702 shares on December 4th following a 15% price increase in a week.
- Robinhood closed 10.26% higher on Tuesday and is currently trading higher in premarket hours.
Strategic Portfolio Adjustments by Ark Invest
These adjustments demonstrate the proactive approach taken by Ark Invest in managing its holdings based on market trends and its outlook for different sectors. The sale of Coinbase and GBTC reflects a cautious approach to these assets, while the accumulation of Robinhood indicates confidence in its future potential and growth.
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