Cathie Wood-led Ark Invest on Friday shed another 127,800 shares, estimated to be worth about $35.16 million, in Square Inc (NYSE:SQ), booking more profits as the stock recorded a 10% weekly gain.
SQ shares closed 2.38% lower at $275.10 on Friday but surged 11.3% in the week after a solid earnings beat. The Jack Dorsey-led financial services and digital payment company said it had agreed to purchase buy-now, pay-later company Afterpay in an all-stock deal valued at $29 billion.
Ark Invest deployed both Ark Innovation ETF (NYSE:ARKK) to sell Square shares on Friday. The investment firm also holds a position in Square via the Ark Next Generation Internet ETF (NYSE:ARKW) and the Ark Fintech Innovation ETF (NYSE:ARKF).
Together, the three ETFs held about 6.57 million shares, worth $1.85 billion, in Square ahead of Friday’s trade. A week ago, just before the shares surged, Ark Invest held over 7 million shares, worth $1.74 billion in Square.
The New York-based investment management firm also bought 48,880 shares, estimated to be worth about $19.14 million, in Roku Inc (NASDAQ:ROKU), on the dip — the second straight buy after three months of selling its positions in the streaming media player.
Roku shares closed 2.98% lower at $391.47 on Friday.
Ark Invest deployed ARKK to buy shares in the San Jose, California-based company on Friday and also holds positions via the Ark Next Generation Internet ETF (NYSE:ARKW).
Together the two ETFs held 3.87 million, worth $1.56 billion, in Roku ahead of Friday’s trade.