Cathie Wood’s ARK Invest is gobbling up shares of Jack Dorsey’s payments firm Block as the banking sector continues its downward slide.
According to ARK Invest’s data, the hedge fund began purchasing shares of Block, formerly known as Square, starting March 13th with 91,000 shares before buying another 186,000 the following day over three transactions.
The data reveals that ARK spent about $14.4 million on shares of Block, which are trading for $72.88 at time of writing.
Trending: Former Michael Cohen Lawyer Drops Bombshell After Yesterday’s Testimony In Front Of Grand Jury For Manhattan DA’s Desperate Case Against Trump [VIDEO]
Earlier this month, Wood, ARK’s chief executive, doubled down on the crypto industry by investing in trading platforms Coinbase and Robinhood. The hedge fund bought 50,000 shares of Coinbase and over a million shares of Robinhood, worth $2.9 million and $9.57 million at time of purchase.
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!