Cathie Wood’s Ark Invest continued to sell Coinbase shares yesterday, removing 34,261 COIN ($5.5 million) from two funds as the stock hit yearly highs, according to the company’s latest trading filing.
Ark Invest Continues Coinbase Sales, Sold $5.5 Million More COIN
Ark continued to rebalance fund weightings amid a surge in COIN shares last month, selling 28,638 Coinbase shares ($4.6 million) from its Innovation ETF and 5,623 ($906,000) from its Next Generation Internet ETF.
Ark also divested $59 million worth of Coinbase shares last week.
Coinbase shares traded at $161.16 at market close yesterday, up nearly 5% on the day, 66% in the past month, and 342% year-to-date, reaching their highest level since April 2022, according to TradingView.
However, the stock remains down about 53% from its November 2021 all-time high of around $343.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/investment-company-ark-invest-continues-to-sell-coinbase-shares/