Cathie Wood Buys Another $6.5M In Robinhood, $6.3M In Peloton

Cathie Wood-led Ark Invest on Friday further raised its exposure in Robinhood Markets Inc HOOD as the brokerage's shares dipped.

The popular money managing firm snapped up 145,862 shares — estimated to be worth $6.55 million — in Robinhood, on the day shares of the company closed 2.24% lower at $44.91 a share.

Robinhood, which enables the trading of stock and cryptocurrencies, announced last week its users would soon be able to send and receive crypto to and from outside wallet addresses.

The feature would allow Robinhood account users the ability to transfer cryptocurrencies supported on the app like Bitcoin BTC/USD and Dogecoin DOGE/USD.

The New York-based investment manager bought shares in Robinhood via the Ark Innovation ETF ARKK on Friday. Besides ARKK, the Ark Fintech Innovation ETF ARKF and the Ark Ark Next Generation Internet ETF ARKW own shares in the company.

The three ETFs held a total of about 8.31 million shares —worth $381.6 million — in Robinhood ahead of Friday’s trades. 

See Also: Cathie Wood Loads Up $55M In Twitter As It Enables Tipping With Bitcoin

Here are some of the other key trades for Ark on Friday:

• Bought 67,892 shares —estimated to be worth $6.29 million — in Peloton Interactive Inc PTON on the dip. Shares of the U.S. exercise equipment company closed 1.84% lower at $92.64 on Friday. 
• Bought 240,811 shares — estimated to be worth $3.03 million — in Ginkgo Bioworks Holdings DNA. Boston-based Ginkgo Bioworks began trading on the New York Stock Exchange about a week ago, becoming the latest company to close a SPAC merger and go public. The biotech company's shares closed 2.4% higher at $12.60 on Friday.
• Sold 81,581 shares — estimated to be worth $11.62 million — in Unity Software Inc U, on the day shares of the company closed 1.12% higher at $142.52. 

Photo: Courtesy of Robinhood