COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: ARK Invest Begins Selling Large Shares of Robinhood
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > News > ARK Invest Begins Selling Large Shares of Robinhood
News

ARK Invest Begins Selling Large Shares of Robinhood

In Brief

  • ARK Invest sells 1.6 million Robinhood shares.

  • Most shares offloaded from ARK Innovation ETF.

  • Biggest sale since ARK started accumulating HOOD.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Investment management firm ARK Invest, founded by experienced investor Cathie Wood, has started selling a significant amount of shares in the crypto-friendly trading app Robinhood (HOOD). According to a transaction notification, on March 25th, ARK sold 1.6 million Robinhood shares from three of its funds. Based on the closing price of $19.08 for HOOD on March 25th, as reported by TradingView, this amount is valued at $31.5 million.

Contents
ARK Invest Continues Its SalesNotable Development on ARK’s Side

ARK Invest Continues Its Sales

The bulk of the sale, approximately 1.247 million shares worth around $24 million, was unloaded from the ARK Innovation ETF (ARKK). ARK also sold 275,933 and 128,137 HOOD shares from the ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF), respectively.

ARK’s recent Robinhood sale marks the largest divestment since the company began actively accumulating HOOD shares last year. The sales occurred during a period when Robinhood’s price had seen a significant increase of 36% over the last 30 days.

Previously, the firm had been selling smaller portions of Robinhood shares, and most of these sales had to comply with Rule 12d3-1. The rule prohibits funds from acquiring more than 5% of their total assets’ value in securities. With the $24 million Robinhood share sale, HOOD remains ARK’s eighth-largest portfolio asset, representing 4.3% of its $8.2 billion in managed assets.

As of March 26th, the top three assets are Coinbase (COIN) with a 10.6% share, followed by Tesla (TSLA) and Roku (ROKU) with 8.4% and 7.5% shares, respectively.

Notable Development on ARK’s Side

ARK continues to buy more shares of the online gaming platform Roblox (RBLX) while selling shares of Robinhood. On March 25th, ARK purchased 740,115 Roblox shares for its three funds, ARKK, ARKW, and ARKF. According to TradingView, this amount was valued at $27 million based on the closing price of the day.

In addition to selling Robinhood, ARK continued to divest Coinbase shares, offloading 4,291 COIN on March 26th. Based on TradingView data, this sale was valued at approximately $21 million as of the morning of March 26th.

Founded in 2013, Robinhood is a crypto-friendly stock trading app that allows users to trade stocks, ETFs, options, and other assets, as well as cryptocurrencies like Bitcoin and Ethereum. On March 20, 2024, Robinhood launched the Android version of its Robinhood Wallet app.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Trump Organization Files Lawsuit Against Capital One for Account Closures

Will X Face Major Fines from the European Union?

New Mobile Game for Tower Defence Genre Lovers: Starz Defence

Join the Epic Space Adventure in Starz Defence Today!

SEC Initiates Investigation into Elon Musk’s Neuralink Before Gensler’s Term Ends

COINTURK NEWS 26 March, 2024 - 1:34 pm 26 March, 2024 - 1:34 pm
Share This Article
Facebook Twitter
Share
Previous Article BEFE Coin’s Price Surges 45% on Anticipation of Presale Event
Next Article Bitcoin Surges Past Key Resistance Level
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

AUSTRAC Imposes New Limits on Crypto ATMs in Australia
Cryptocurrency Law
Investors Brace for Major Cryptocurrency Price Swings This Week
Meme Token
Bitcoin’s Journey to Stability: What Lies Ahead?
Technical Analysis
Watch Crypto Cycles Clash with Global Policies for Unprecedented Market Moves
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?