Cathie Wood-led Ark Invest on Friday shed another 127,800 shares, estimated to be worth about $35.16 million, in Square Inc SQ, booking more profits as the stock recorded a 10% weekly gain.
SQ shares closed 2.38% lower at $275.10 on Friday but surged 11.3% in the week after a solid earnings beat. The Jack Dorsey-led financial services and digital payment company said it had agreed to purchase buy-now, pay-later company Afterpay in an all-stock deal valued at $29 billion.
Ark Invest deployed both Ark Innovation ETF ARKK to sell Square shares on Friday. The investment firm also holds a position in Square via the Ark Next Generation Internet ETF ARKW and the Ark Fintech Innovation ETF ARKF.
Together, the three ETFs held about 6.57 million shares, worth $1.85 billion, in Square ahead of Friday’s trade. A week ago, just before the shares surged, Ark Invest held over 7 million shares, worth $1.74 billion in Square.
The New York-based investment management firm also bought 48,880 shares, estimated to be worth about $19.14 million, in Roku Inc ROKU, on the dip — the second straight buy after three months of selling its positions in the streaming media player.
Roku shares closed 2.98% lower at $391.47 on Friday.
See Also: Roku Stock Pulls Back After Q2 Earnings: Has Streaming Growth Peaked?
Ark Invest deployed ARKK to buy shares in the San Jose, California-based company on Friday and also holds positions via the Ark Next Generation Internet ETF ARKW.
Together the two ETFs held 3.87 million, worth $1.56 billion, in Roku ahead of Friday’s trade.
Some of the other key Ark Invest buys on Friday included UiPath Inc PATH and sells included Signify Health Inc SGFY.
See also: How to Buy Roku Stock
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