Generation

when

<ul class="wp-block-list">
 <li>The Robinhood shares were distributed as ARKK sold its largest portion which stood about 1,094,321.</li>
 <li>ARKW and ARKF neared by words at 191,445 shares and 135,665 shares each.&nbsp;</li>
 <li>The stock price of Robinhood went over 100% from the beginning of the year to now and was at its peak in the prolonged period.</li>
</ul>
ARK Invest, an American investment management company from Florida has disposed of a significant amount of Robinhood, an American financial service company shares. On October 8, ARK Invest dumped nearly 1.4 million of Robinhood shares that accounted for about $36.4 million from its three funds.&nbsp;
The event was done by the investment management company in the recent past before this. This time, the disposal is done because the shares of Robinhood was near to 5% of the total weight of the portfolio and to fall in with 12d3-1 rule.&nbsp;
The 12d3-1 rule states that you can not take possession of more than 5% of the value of overall assets in securities of a producer.&nbsp; The previous offloading 
On March 25 of this year ARK sold out about 1.6 million shares of Robinhood from its three funds. The amount accounted for $31.5 million. A large amount of about 1,247,181 shares was sold by ARK Innovation ETF, taking it to about $24 million. ARK also sold about 275,993 and 128,137 HOOD shares through ARK Next Generation Internet ETF as well as ARK Fintech Innovation ETF.&nbsp;
At the same time when ARK Invest sold around $36 million, the stock price of Robinhood went over 100% from the beginning of the year to now and was at its peak in the prolonged period.&nbsp; Robinhood at its high after prolonged period dingView, an analysis platform for traders and investors shared data in which Robinhood closed at $25.61 yesterday, which led to its highest value as compared to November 2021. In the last one month, the stock has added more than 30%. 
As Robinhood has shown a notable growth this year, the financial service company is still not near its all-time high which accounts for $44, soon after its launch in July 2021. The funds indulged in the sale of Robinhood by ARK are ARK Innovation ETF, the ARK Next Generation Internet ETF as well as the ARK Fintech Innovation ETF.&nbsp;&nbsp;
The Robinhood shares were distributed as ARKK sold its largest portion which stood about 1,094,321, and at the same time, ARKW and ARKF neared by words at 191,445 shares and 135,665 shares each.&nbsp;
If we take a look over the top 10 holdings of ARKK, as of today, the fund accounted for $274 million of the company, or simply stating about 4.9% of the total assets. The ARKK fund has a larger amount of shares in an American publicly traded company, Coinbase. It accounts for about $368 million in assets as of today.&nbsp;
The value is about 6.6% of the total <a href="https://news.todayq.com/blockchain-activity-surges-over-70-due-to-ai-dapps/" target="_blank" rel="noopener noreferrer nofollow">p</a><a href="https://news.todayq.com/blockchain-activity-surges-over-70-due-to-ai-dapps/" rel="noopener noreferrer nofollow">ortfolio</a> of ARKK and Coinbase has ranked it as the third largest holding following Tesla and Roku.

ARK Invest offloads about $31M in Robinhood stock

Todayq News

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