PINS - Cathie Wood Buys Whopping $21M Worth Of Shares In This Social Commerce Company Even As ARK Continues To Dump Coinbase GBTC | Benzinga
Cathie Wood’s Ark Invest picked up huge chunk of shares in social commerce company Pinterest, Inc. (NYSE:PINS) and dumped more of crypto-linked stocks on Friday, daily trade disclosure from the firm showed.
Bulking Up On Pinterest: Ark, through its flagship Ark Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW) and Ark Fintech Innovation ETF (NYSE:ARKF), bought 572,445 shares of Pinterest. The purchase would have cost Ark $21.39 million, based on Pinterest’s Friday’s closing price of $37.37.
Ahead of Friday’s accumulation, Pinterest was part of ARKF, with the actively-managed fund holding 534,280 Class A shares ...