Cathie Wood's Ark Invest Continues To Shed Coinbase, Nvidia Shares

Benzinga Neuro

April 15, 2024

On Monday, Cathie Wood-led Ark Invest made significant trades involving Coinbase Global Inc. (NASDAQ:COIN) and NVIDIA Corp. (NASDAQ:NVDA).

The COIN Trade

Ark Invest decided to offload 3,689 shares of Coinbase from its ARK Next Generation Internet ETF (NYSE:ARKW) fund. The value of the sold COIN shares, based on the closing price of $223.41 on Monday, amounts to approximately $824,000.

Last week, despite a recent rise in Bitcoin (CRYPTO: BTC) prices, Ark Invest sold a significant amount of Coinbase shares, with back-to-back trades on certain days.

The NVDA Trade

Ark Invest also reduced its stake in NVIDIA Corp. from its ARK Genomic Revolution ETF (BATS:ARKG) fund by 157 units. The value of the sold Nvidia shares, based on the closing price of $860.01 on Monday, is approximately $135,000. This move comes despite a recent bullish prediction by a chart analyst, who suggested that NVIDIA is poised for another upward move.

Other Key Trades:

Ark Invest bought shares of Teladoc Health Inc (NYSE:TDOC) across its ARKF, ARKG, and ARKK funds. Shares of UiPath Inc (NYSE:PATH) were sold from the ARKG fund.
The ARKK fund saw a purchase of shares from Roku Inc (NASDAQ:ROKU) and a sale of Draftkings Inc (NASDAQ:DKNG) shares.
ARKW fund sold shares of Twilio Inc (NYSE:TWLO).

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