ARK Invest sells Coinbase shares worth $ 8.64 million after coin rally at record heights
ARK Invest sold Coinbase at the end of last week (COIN)-Shares worth $ 8.64 million when the shares of the crypto exchange rose to record heights.
Cathie Wood's investment management company sold 5,596 coin shares from his Next Generation Internet ETF (ARKW) On Friday, worth $ 2.17 million based on the closing price of $ 387.06. This was preceded by the sale of 16,627 shares on Thursday, which had a value of $ 6.47 million at the end of the day, from Arks Innovation ETF (Sheet).
Coin reached one Record high over $ 395 during trade on Friday, when Bitcoin rose to an all -time high of around $ 118,000.
Course increase for certain stocks often cause considerable sales from ARKwhich pursues a target weighting, in which no individual position is more than 10 % of the total value of an ETF.
Coin is rated $ 393.50 at the time of the drafting of this article, 1.66 % higher than its final course on Friday, since BTC's increase extended toachieve a new all -time high of over $ 122,000.
