Ark Invest bought $12.2 million worth of SpaceX shares on Tuesday while cutting its positions in Block Inc., Bullish and Robinhood. The Cathie Wood-led firm also added smaller amounts of Bitmine stock and a Solana staking ETF. Ark keeps any single stock below 10% of a fund's portfolio.
Cathie Wood-led Ark Invest bought $12.2 million worth of SpaceX shares on Tuesday, while trimming its holdings of Block Inc., Bullish and Robinhood.
The firm picked up 105,108 SpaceX shares across its multiple exchange-traded funds, according to Ark's Tuesday trading disclosure. SpaceX's stock rose 2.56% to close at $116.41 on the day. Over a longer stretch, though, it has fallen 29% over the past month.
Two smaller additions followed on the same day. Ark bought $289,167 worth of Bitmine shares and approximately $32,667 worth of the 3iQ Solana Staking ETF.
On the other side of the ledger, the investment firm offloaded $2.3 million worth of Block Inc. shares, $1.6 million worth of Bullish, and $4 million worth of Robinhood.
Those three names moved in different directions that session. Block Inc. finished up 2.29% at $83.10.
Bullish slipped 0.48% to $22.69. Robinhood, meanwhile, fell 3% to $92.76.
Ark actively adjusts its ETF holdings so that no single stock exceeds 10% of a fund's portfolio. This means the firm would rebalance weightings when the value of certain assets fluctuates significantly.
Source: The Block
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