Cathie Wood’s Ark Raises Stakes In Crypto Plays Robinhood, Coinbase And Other Keys Trades From Monday – Amazon (AMZN), Converted Organics (COIN)

Cathie Wood-led Ark Invest on Monday further raised its exposure in Robinhood Markets Inc (NASDAQ:HOOD) on the dip. 

The popular money managing firm bought 404,020 shares — estimated to be worth $16.4 million in Robinhood — on the day shares of the company closed 3.96% lower at $40.70 a share. 

As per reports, Robinhood is testing a highly-anticipated feature that would allow users the ability to transfer cryptocurrencies supported on the app like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE).

The New York-based investment manager bought shares in Robinhood via the Ark Innovation ETF (NYSE:ARKK) and the Ark Fintech Innovation ETF (NYSE:ARKF). Besides the two ETFs, the Ark Next Generation Internet ETF (NYSE:ARKW) too owns shares in the company.

The three ETFs held a total of 8 million shares —worth $326 million — in Robinhood as of Monday’s trades. 

See Also: Cathie Wood Shed Another $11M From Tesla Stake On Friday, Bought Disney And These Stocks Instead

Here are some of the other key trades for Ark on Monday:

Bought 96,251 shares — estimated to be worth $22.7 million — in Coinbase Global Inc (NASDAQ:COIN). Shares of the cryptocurrency exchange closed 3.53% lower at $236.53 on Monday.

Bought 54,479 shares — estimated to be worth $15.3 million — in Zoom Video Communications Inc (NASDAQ:ZM). Shares of the video calling company closed 2.44% lower at $280.67. 

Sold 2,605 shares — estimated to be worth $8.74 — in Inc (NASDAQ:AMZN) on the day shares of the e-commerce company closed 3.08% lower at $3,355.73.

Sold 10,400 shares — estimated to be worth $2.2 million — in NVIDIA Corp (NASDAQ:NVDA). Shares of NVIDIA closed 3.59% lower at $211.13.

Photo: Courtesy of Robinhood

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