Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Cathie Wood makes headline as Ark Invest dumps $16 million in Coinbase stock

Source Fxstreet

Cathie Wood’s Ark Invest rebalances portfolio according to the latest trade filings.
Coinbase shares worth $16 million were offloaded along with $8.2 million in Robinhood shares.
The company also shed stocks of chipmakers like NVIDIA and TSMC.

The latest trade filings from Cathie Wood’s Ark Invest showed that the company has decided to rebalance its portfolio. In the process of rebalancing, Ark Invest has reduced holdings of chipmakers like TSMC and Nvidia, along with Coinbase and Robinhood from the finance sector.

Read more: Nvidia turns the tables for global stock market dynamics

Cathie Wood's Ark Invest trims chipmakers and Coinbase holdings

Based on company filings, Cathie Wood's Ark Invest has offloaded 2,362 shares of Nvidia on Friday as the market takes a breather from the AI-induced rally. Along with NVIDIA, Ark Invest has also sold US crypto exchange Coinbase's $16 million shares and shares in Robinhood (HOOD) worth $8.2 million.

Read more: Nvidia Stock Earnings: NVDA Q4 results trounce consensus

Here’s a detailed breakdown of the recent filings:

Cathie Wood's Ark Invest has been making adjustments to its portfolio, trimming holdings in both chipmakers and Coinbase.

Chipmakers:

Ark Autonomous Technology and Robotics ETF sold shares of TSMC (first sale since late 2021) and Nvidia.
This follows Ark's ongoing portfolio rebalancing as chip stock prices surge (Nvidia up 59% and TSMC up 25% year-to-date).
Ark still holds around 221,848 shares of TSMC.
Previously, Cathie Wood was bullish on AI, investing in software companies like UiPath and Twilio instead of chipmakers.
Due to recent price increases, both TSMC and Nvidia have fallen out of the fund's top 10 holdings.

Coinbase:

Ark Invest sold a total of 96,435 Coinbase shares ($16 million) across three ETFs in the past week.
This is part of Ark's strategy to rebalance fund weightings despite a recent 30% surge in Coinbase's price.
Coinbase stock remains down over 50% from its all-time high, though it's up 160% in the past year.

Overall, these sales indicate that Ark Invest is adjusting its portfolio to reflect current market conditions and its long-term investment strategies.

Also read: Nvidia overtakes Tesla as most-traded stock, while AI boosts revenue 265%

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Hurricane Isaias has shut in a quarter of Gulf oil output — can WTI clear $92 before Thursday's EIA report?WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.

Author Irene Q.

Oct 09, Fri

WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.

US September CPI preview: inflation set to hit 3.7% — will the Fed hike in December?US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.

Author Irene Q.

Oct 10, Sat

US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.

Gold posts first weekly gain in three weeks — can $4,200 hold through CPI?Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.

Author Irene Q.

Oct 10, Sat

Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.

Brent swings $105.63 to $102.33 as Gulf risk meets an 'energy ceasefire' — can $100 hold into CPI?Brent spiked to $105.63 in Asian trade on fresh Middle East supply incidents, then reversed to $102.33 after the US announced a Russia-Ukraine 'energy ceasefire' and 300,000+ tonnes of Russian diesel headed to global markets; WTI fell through $90. Here are the drivers, the levels and the scenarios into Wednesday's US CPI.

Author Irene Q.

18 hours ago

Brent spiked to $105.63 in Asian trade on fresh Middle East supply incidents, then reversed to $102.33 after the US announced a Russia-Ukraine 'energy ceasefire' and 300,000+ tonnes of Russian diesel headed to global markets; WTI fell through $90. Here are the drivers, the levels and the scenarios into Wednesday's US CPI.

Bank earnings kick off tomorrow with the S&P 500 seven points from a record — what JPMorgan, Goldman, Citi and Wells Fargo must prove Q3 earnings season starts Tuesday with JPMorgan, Goldman Sachs, Citigroup and Wells Fargo reporting before the open — with the S&P 500 just 7 points from its record close, bank stocks down 7.5% over the past month, and September CPI landing the next day. Here are the numbers to watch, the two-sided setup and the levels that matter.

Author Irene Q.

18 hours ago

Q3 earnings season starts Tuesday with JPMorgan, Goldman Sachs, Citigroup and Wells Fargo reporting before the open — with the S&P 500 just 7 points from its record close, bank stocks down 7.5% over the past month, and September CPI landing the next day. Here are the numbers to watch, the two-sided setup and the levels that matter.

Popular Symbols