Cathie Wood, the renowned chieftain of money manager Ark Investment, is well known for increasing positions when her favorite stocks go down.
And that’s what she did Monday, snapping up cryptocurrency exchange Coinbase (COIN) , online brokerage Robinhood (HOOD) – Get Robinhood Report, streaming platform Roku (ROKU) – Get Roku, Inc. Class A Report, real estate services provider Zillow (Z) – Get Zillow Group, Inc. Class C Report and video services provider Zoom Video Communications (ZM) – Get Zoom Video Communications (ZM) Report.
Ark Innovation ETF (ARKK) – Get ARK Innovation ETF Report bought 66,894 shares of Coinbase, and Ark Fintech Innovation ETF (ARKF) – Get ARK Fintech Innovation ETF Report bought 29,357. All together, that was worth $22.8 million at Monday’s close.
Ark Innovation purchased 342,757 shares of Robinhood, while Ark Fintech purchased 61,263. All together, that was worth $16.4 million at Monday’s close.
Ark Innovation acquired 43,679 shares of Roku, worth $13.8 million at Monday’s close.
Ark Next Generation Internet ETF (ARKW) – Get ARK Next Generation Internet ETF Report bought 3,543 shares of Zillow, worth $341,000 at Monday’s close.
Finally, Ark Innovation purchased 54,479 shares of Zoom, worth $15.3 million at Monday’s close.
Last Wednesday Ark Innovation and Ark Next Generation sold 81,600 shares of electric vehicle titan Tesla (TSLA) – Get Tesla Inc Report, valued at $61.7 million at the close.
ARK Innovation unloaded 70,161 shares, and ARK Next Generation shed 11,448. That put the value of ARK ETFs’ total Tesla sales so far this month at $266 million, according to Bloomberg.
The funds have dumped more than 350,000 shares during that period, but the Palo Alto, Calif., automaker remains their biggest holding, according to Bloomberg.
In March, Wood said she expected Tesla to hit $3,000 in 2025. When she sold some Tesla last year, she told CNBC that keeping position sizes in check is “wise portfolio management.”
