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ARK buys $110 million Coinbase shares, adding to positions

Published 04/15/2021, 11:12 PM
Updated 04/15/2021, 11:20 PM
© Reuters. The logo for Coinbase Global Inc is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York

(Reuters) - Ark funds, managed by celebrity stockpicker Cathie Wood, bought shares of Coinbase worth $110 million, a day after the cryptocurrency exchange's Nasdaq debut, according to the firm's daily trade summary on Thursday.

ARK, which gained prominence https://www.reuters.com/technology/cathie-woods-ark-funds-bought-246-million-coinbase-shares-2021-04-15 last year among retail investors, on Thursday bought a total of 341,186 shares across three funds at Thursday's $322.75 close.

That added to 749,205 purchased https://www.reuters.com/technology/cathie-woods-ark-funds-bought-246-million-coinbase-shares-2021-04-15 according to its Wednesday alert, or $245.9 million at Wednesday's $328.28 close.

© Reuters. The logo for Coinbase Global Inc is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York

The funds added to were its flagship ARK Innovation fund Ark Innovation ETF, its Next Generation Internet ETF and Fintech Innovation ETF.

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