Cathie Wood's Ark Invest Sells Another Tranche Of Block Shares, Even As Bitcoin Price Stages A Recovery

On Wednesday, Cathie Wood-led Ark Invest made a significant move by offloading shares of Block Inc SQ amidst Bitcoin BTC/USD prices recovering.

The Block Inc Trade

The sale, worth $3.5 million, was executed through Ark's flagship ARK Innovation ETF ARKK and ARK Next Generation Internet ETF ARKW with a total of 42,608 shares sold. The value of the trade, calculated from the latest closing price of $81.46. Notably, at the time of writing, Bitcoin traded nearly 6.6% higher at $67,330.71.

Ark has sold Block shares in every trading session of the current week. On Monday, Ark sold Block shares worth $8.95 million and on Tuesday, the firm sold $7.5 million worth. For the week, including Wednesday’s sale, the total stands at $19.95 million.

Notably, Wood came to the defense of Block when the short seller Hindenburg issued an adverse report against the company.

Other Key Trades:

Ark Invest bought shares of Cerus Corp CERS. The firm also bought shares of Personalis Inc PSNL.

Ark also purchased shares of Moderna Inc MRNA through its ARKK fund. Shares of Twilio Inc TWLO were sold from both the ARKK and ARKW portfolios.

Read Next: Whopping $33.8 Million Worth Of Dogecoin Shifted To Robinhood — And People Suspect This Person Could Be Behind It