June 8, 2023 6:30 AM | 1 min read
Cathie Wood-run Ark Invest loaded up shares in Jack Dorsey-run Block, Inc. (NYSE:SQ) on Wednesday, daily trade disclosure from the firm showed.
Ark, through its flagship Ark Innovation ETF (NYSE:ARKK), and Ark Next Generation Internet ETF (NYSE:ARKW), and Ark Fintech Innovation ETF (NYSE:ARKF), bought 227,365 shares of Block valued at $15.06 million.
According to Benzinga Pro data, Block closed Wednesday’s session up 0.39% at $66.24, despite the broader market weakness.
Block is a financial services and digital payments company. Its payments platform targets small and medium businesses.
The company also offers Bitcoin (CRYPTO: BTC) trading through its Cash App and holds the crypto on its balance sheet as an alternative to cash.
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Except for a sale in late January, Ark has continued to be a Block buyer this year.
The purchase comes even as major cryptocurrencies, including Bitcoin, face a slump as the SEC crackdown on Binance and Coinbase Global Inc has spooked investors.
Wood has been a vocal supporter of Bitcoin over the years and has said it would hit $1 million by 2030.
Ark’s other major trades on Wednesday include:
- Sale of 210,936 shares of Exact Sciences Corp. (NASDAQ:SQ)
- Sale of 68,239 shares of DraftKings, Inc. (NASDAQ:DKNG)
See Also: Best Fintech Stocks
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