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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ark-invest-begins-selling-large-shares-of-robinhood/" data-wpel-link="internal">ARK Invest Begins Selling Large Shares of Robinhood</a> 
<a href="https://en.coin-turk.com/sec-actions-stagger-crypto-market-find-out-which-altcoins-are-safe/" data-wpel-link="internal">Investment</a> management firm ARK Invest, founded by experienced investor Cathie Wood, has started selling a significant amount of shares in the crypto-friendly trading app Robinhood (HOOD). According to a transaction notification, on March 25th, ARK sold 1.6 million Robinhood shares from three of its funds. Based on the closing price of $19.08 for HOOD on March 25th, as reported by TradingView, this amount is valued at $31.5 million. 
<h2 class="p1" style="text-align: justify" id="ark-invest-continues-its-sales">ARK Invest Continues Its Sales</h2> 
The bulk of the sale, approximately 1.247 million shares worth around $24 million, was unloaded from the ARK Innovation ETF (ARKK). ARK also sold 275,933 and 128,137 HOOD shares from the ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF), respectively. 
ARK’s recent Robinhood sale marks the largest divestment since the company began actively accumulating HOOD shares last year. The sales occurred during a period when Robinhood’s price had seen a significant increase of 36% over the last 30 days. 
Previously, the firm had been selling smaller portions of Robinhood shares, and most of these sales had to comply with Rule 12d3-1. The rule prohibits funds from acquiring more than 5% of their total assets’ value in securities. With the $24 million Robinhood share sale, HOOD remains ARK’s eighth-largest portfolio asset, representing 4.3% of its $8.2 billion in managed assets. 
As of March 26th, the top three assets are Coinbase (COIN) with a 10.6% share, followed by Tesla (TSLA) and Roku (ROKU) with 8.4% and 7.5% shares, respectively. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-333343 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/arkk.webp" alt="" width="1170" height="772"> 
<h2 class="p1" style="text-align: justify" id="notable-development-on-ark-s-side">Notable Development on ARK’s Side</h2> 
ARK continues to buy more shares of the online gaming platform Roblox (RBLX) while selling shares of Robinhood. On March 25th, ARK purchased 740,115 Roblox shares for its three funds, ARKK, ARKW, and ARKF. According to TradingView, this amount was valued at $27 million based on the closing price of the day. 
In addition to selling Robinhood, ARK continued to divest Coinbase shares, offloading 4,291 COIN on March 26th. Based on TradingView data, this sale was valued at approximately $21 million as of the morning of March 26th. 
Founded in 2013, Robinhood is a crypto-friendly stock trading app that allows users to trade stocks, ETFs, options, and other assets, as well as cryptocurrencies like <a href="https://en.coin-turk.com/bitcoin-price-poised-for-potential-surge-says-cryptoquant-ceo/" data-wpel-link="internal">Bitcoin</a> and <a href="https://en.coin-turk.com/ethereums-market-performance-and-price-predictions/" data-wpel-link="internal">Ethereum</a>. On March 20, 2024, Robinhood launched the Android version of its Robinhood Wallet app. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/ark-invest-begins-selling-large-shares-of-robinhood/" data-wpel-link="internal">ARK Invest Begins Selling Large Shares of Robinhood</a></h5>

ARK Invest Begins Selling Large Shares of Robinhood

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