Cathie Wood's Ark Invest made a couple of high-value transactions on Friday amid a strong market rebound.
Shopify Stake Shrunk: Ark Invest sold Shopify, Inc. SHOP for a second straight day on Friday, daily trade information from the fund showed. The stock was on a tear during the two sessions, capitalizing on a strong earnings performance and cost-savings measures announced by the Canadian e-commerce retailers.
Here's how much each of the firm's exchange-traded funds sold on Friday:
Ark Innovation ETF ARKK : 468,882 shares
Ark Next Generation Internet ETF ARKW : 77,105 shares
Ark Fintech Innovation ETF ARKF : 53,961 shares
Ark's cumulative Shopify sales on Friday amounted to 599,948 shares, valued at $37.21 million based on Friday's closing price of $62.03, according to Benzinga Pro data.
See Also: Best Fintech Stocks
Block Buy: Jack Dorsey-led fintech company Block, Inc. SQ came under selling pressure on Friday, following the release of the quarterly results. Unperturbed by the negative sentiment, Ark was a big buyer of the company on Friday.
The Details:
ARKK: 421,625 shares
ARKW: 73,222 shares
ARKF: 49,430 shares
In total, Ark bought 173,423 shares of Block on Friday, valued at $10.3 million based on the closing price of $59.25.
Ark was a heavy buyer of Block throughout March and stepped up purchases, even amid a short-seller report that revealed in late March that the company had misled investors on key metrics.
Read Next: Block Beats Q1 Earnings Estimates, Tops Revenue Forecasts, Shares Jump
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