Cathie Wood-led Ark Investment Management on Wednesday snapped up 134,250 shares, estimated to be worth about $11.09 million, in Roblox Corp RBLX on the dip.
Shares of the company closed 8.03% lower at $82.59 on Wednesday after the company reported a decline in users and their spending on the online entertainment platform.
The company announced Tuesday after-hours that daily active users were 43 million in May, up 28% from the same month last year and down 1% from 43.3 million in April.
See Also: Why Roblox Shares Are Trading Lower Today
The New York-based investment firm bought the shares of the company via the Ark Next Generation Internet ETF ARKW. No other ETF holds the shares of the company.
ARKW holds a total of 617,418 shares, worth about $55.44 million in the San Mateo, California-based company.
Roblox’s online entertainment platform offers a wide range of games for kids, teens and adults. The popular platform allows users to interact with each other.
See Also: Cathie Wood Loads Up $42M In DraftKings As Shares Drop On Short-Seller Report
Some of the other key sells on Wednesday included Takeda Pharmaceutical Co Ltd TAK and buys include Blade Air Mobility BLDE.
Photo: Courtesy of Roblox
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