Ark Funds Sell $59 mn Worth Of Coinbase Shares
Ark Invest has sold nearly $59 million of Coinbase from various funds this week, following three days of sales. The asset manager sold around $1.4 million in Coinbase stock on Monday, and around $33 and $24 million respectively on Tuesday and Wednesday. As of Dec. 7, Ark holds 6.7 million shares of Coinbase in ARKK, over 949,000 shares in ARKF, and 1.3 million shares in ARKW.
Coinbase dominates as the top holding in each of these funds. Ark unloaded Coinbase throughout the last week, selling roughly $15 million of stock as the stock benefited from the recent bitcoin rally. The stock has been climbing towards its 52-week high of $147, but is currently hovering around $135 at the time of publication. Year-to-date, the stock is up roughly 284%.
(With inputs from Shikha Singh)
You need to login in order to Like
