Cathie Wood-led Ark Investment Management on Thursday snapped up 255,478 shares, estimated to be worth about $62.4 million, in Coinbase Global Inc (NASDAQ:COIN), on the dip.
Shares of the cryptocurrency exchange fell 3.05% to $244.29 on Thursday.
The Ark Fintech Innovation ETF (NYSE:ARKF) too holds shares of Coinbase.
Ahead of Thursday’s buy, the New York-based firm had piled up over 5 million shares, worth $1.27 billion, since the stock’s Nasdaq debut in April.
The popular investment firm on Thursday shed 135,492 shares, estimated to be worth about $9 million, in social media company Twitter Inc (NYSE:TWTR).
Shares of Twitter closed 2.76% lower at $66.83 on Thursday.
Ark Invest deployed ARKW to buy the shares of Twitter and also holds it via ARKK.
The two ETFs together held 11.13 million shares, worth about $765.3 million, in the social media company ahead of Thursday’s trade.
The investment firm has been shedding shares of another social media company — Snapchat parent Snap Inc (NYSE:SNAP).