{"id":24801,"date":"2023-11-09T11:58:21","date_gmt":"2023-11-09T11:58:21","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/cathie-woods-ark-bags-1-1m-robinhood-shares-in-one-day\/"},"modified":"2023-11-09T11:58:23","modified_gmt":"2023-11-09T11:58:23","slug":"cathie-woods-ark-bags-1-1m-robinhood-shares-in-one-day","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/cathie-woods-ark-bags-1-1m-robinhood-shares-in-one-day\/","title":{"rendered":"Cathie Wood\u2019s ARK bags 1.1M Robinhood shares in one day"},"content":{"rendered":"
ARK Invest, the investment firm founded by major Bitcoin (BTC) advocate Cathie Wood, is actively accumulating stock of the crypto-friendly app Robinhood (HOOD).<\/p>\n
On Nov. 8, ARK made a massive Robinhood stock purchase, bagging a total of 1.1 million shares for about $9.5 million in one day, according to a trade notification seen by Cointelegraph.<\/p>\n
The purchase involved three innovation exchange-traded funds (ETF) managed by ARK, including ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF).<\/p>\n
ARKK has allocated the biggest amount of shares in the purchase, buying 888,500 HOOD shares, or 78% of the entire daily buy. ARKW and ARKF allocated 152,849 shares and 99,697 shares, respectively.<\/p>\n
The mega purchase followed steady Robinhood equity-buying by ARK, though the most recent purchases involved significantly smaller purchases. On Oct. 23, ARK purchased 197,285 Robinhood shares for its ARKW funds, following a 259,628 HOOD buy on the previous day.<\/p>\n
Related: <\/em><\/strong>Cathie Wood\u2019s ARK sells Grayscale Bitcoin Trust shares as BTC hits $34K<\/em><\/strong><\/p>\n The latest buy came as\u00a0Robinhood on Nov. 8 disclosed plans to expand into Europe in the coming weeks, particularly exploring establishing brokerage operations in the United Kingdom. The announcement coincided with the HOOD stock plunging over 14% after the online brokerage reported worse-than-expected results as trading activity and users declined. According to data from TradingView, Robinhood closed at $8.37 on Nov. 8.<\/p>\n