Circle · Ark Invest · The Block
Ark Invest picks up $37 million worth of shares in Jack Dorsey’s Block Inc
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Cathie Wood's Ark Invest scooped up roughly $37.4 million worth of Block Inc. (XYZ) as its shares dipped on Monday.
Key facts
- Cathie Wood's Ark Invest scooped up roughly $37.4 million worth of Block Inc. (XYZ) as its shares dipped on Monday
- Meanwhile, Ark also purchased 35,192 shares of Circle Internet Group (CRCL), worth $3.36 million
- According to the latest trading disclosure, Ark bought 456,059 shares of the Jack Dorsey-led fintech firm across the Ark Innovation ETF (ARKK), Ark Next Generation Internet ETF (ARKW), and the Ark
- Block shares dipped 1.85% on Monday to close at $82.02
Summary
According to the latest trading disclosure, Ark bought 456,059 shares of the Jack Dorsey-led fintech firm across the Ark Innovation ETF (ARKK), Ark Next Generation Internet ETF (ARKW), and the Ark Blockchain & Fintech Innovation ETF (ARKF). The company's investment strategy does not allow an individual holding to exceed 10% of a fund's portfolio to maintain diversification within its ETFs. Block shares dipped 1.85% on Monday to close at $82.02. While the company posted higher-than-expected revenue in the last quarter, analysts at Mizuho raised concerns about its rising operating expenses despite a 40% staff cut in February, amid its shift to an AI-focused operation.