The favored cash supervisor purchased 563,570 shares — estimated to be value $10 million — within the zero-commission buying and selling app that offers in shares, exchange-traded funds and cryptocurrencies.
Robinhood inventory closed 2.4% decrease at $17.7 a share on Friday. The inventory is down 49% since going public in July.
Ark Make investments purchased Robinhood shares by way of the Ark Innovation ETF (NYSE:ARKK) and the Ark Subsequent Technology Web ETF (NYSE:ARKW). The Ark Fintech Innovation ETF (NYSE:ARKF) too owns shares in Robinhood.
Ark Make investments held a complete of 20.18 million — value $378.75 million — in Robinhood, previous to Friday’s commerce.
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Robinhood final month acquired Cove Markets, a cross-exchange buying and selling platform. This was the primary such acquisition for Robinhood Crypto, because it prepares to roll out cryptocurrency wallets.
The St. Petersburg, Florida-based Ark Make investments additionally purchased 38,846 shares — estimated to be value $10 million — in DraftKings. The inventory closed 3.5% decrease at $27.5 a share on Friday.
Ark Make investments has been elevating its publicity within the sports-betting firm for a while and held 19 million shares value $540.8 million in DraftKings, previous to Friday’s commerce.