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Cathie Wood's Ark Invest Sheds Another $35M In Square, Snaps $19M in Roku

Benzinga2021-08-09

Cathie Wood-led Ark Invest on Friday shed another 127,800 shares, estimated to be worth about $35.16 million, in Square, booking more profits as the stock recorded a 10% weekly gain.

SQ shares closed 2.38% lower at $275.10 on Friday but surged 11.3% in the week after a solid earnings beat. The Jack Dorsey-led financial services and digital payment company said it had agreed to purchase buy-now, pay-later company Afterpay Ltd. in an all-stock deal valued at $29 billion.

Ark Invest deployed both ARK Innovation ETF to sell Square shares on Friday. The investment firm also holds a position in Square via the ARK Next Generation Internet ETF and the ARK Fintech Innovation ETF .

Together, the three ETFs held about 6.57 million shares, worth $1.85 billion, in Square ahead of Friday’s trade. A week ago, just before the shares surged, Ark Invest held over 7 million shares, worth $1.74 billionin Square.

The New York-based investment management firm also bought 48,880 shares, estimated to be worth about $19.14 million, in Roku Inc, on the dip — the second straight buy after three months of selling its positions in the streaming media player.

Roku shares closed 2.98% lower at $391.47 on Friday.

Ark Invest deployed ARKK to buy shares in the San Jose, California-based company on Friday and also holds positions via the ARK Next Generation Internet ETF.

Together the two ETFs held 3.87 million, worth $1.56 billion, in Roku ahead of Friday’s trade.

Some of the other key Ark Invest buys on Friday included UiPath and sells included Signify Health, Inc..

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment17

  • 66大顺爷
    ·2021-08-12
    Roku any idea?
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  • SLKRD27
    ·2021-08-10
    This is crazy
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  • ggggigi
    ·2021-08-09
    i invested in both etfs bc i believe in cathie wood 
    Reply
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  • MIe
    ·2021-08-09
    Ark etf with roku and square strong for portfolio appreciation #
    Reply
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  • Cam20
    ·2021-08-09
    Great
    Reply
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    • Cam20
      [Smile]
      2021-08-18
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    • Cam20
      [Smile]
      2021-08-16
      Reply
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  • Tchwee56
    ·2021-08-09
    ARKK still a good investment? Please share your thoughts on this. 
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    • ggggigi
      i would think yes, it has a good track record and a reliable analyst managing the fund aka cathie wood
      2021-08-09
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  • Sogon
    ·2021-08-09
    So I should take profit from Square? Hmmm
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    • chiapopo
      Oh yes..
      2021-08-09
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    • ZEROHERO
      Good to scale out profits gradually
      2021-08-09
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  • Soksok
    ·2021-08-09
    Good 
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    • ykang
      [强]
      2021-08-09
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  • Mikaelocw
    ·2021-08-09
    Comment and like ya
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    • Cam20
      Ok
      2021-08-09
      Reply
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    • gorgonzola
      done. plse like back. thanks!
      2021-08-09
      Reply
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  • HENRYCSC
    ·2021-08-09
    Reply
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    • Soksok
      Good
      2021-08-09
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  • heyjules
    ·2021-08-09
    Like for likes
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    • gorgonzola
      done. plse like back. thanks!
      2021-08-09
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    • Bliang
      A
      2021-08-09
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  • gtyx
    ·2021-08-09
    Likee
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    • Shhui
      Liked
      2021-08-09
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  • Janetkaneki
    ·2021-08-09
    Likes
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  • Oyh
    ·2021-08-09
    ??????
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    • Oyh
      ??
      2021-08-09
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    • Tqt213
      Ok
      2021-08-09
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  • Ku9787
    ·2021-08-09
    Wow
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    • yingyingzoe
      Nice jidt follow!
      2021-08-09
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  • BellaEng
    ·2021-08-09
    Selling
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    • Boonseong
      [财迷]
      2021-08-09
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  • Cash88
    ·2021-08-09
    Comment and like
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    • Cash88
      thanks
      2021-08-10
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    • Kukudosmin
      Ok
      2021-08-09
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    • EC7795
      sure
      2021-08-09
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    View more 1 comments
 
 
 
 

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