Ark Funds Add More Coinbase, Offload Some Tesla

Cathie Wood's Ark funds on Friday picked up more shares of Coinbase Global Inc (NASDAQ: COIN), which debuted this past week, while selling off some holdings of Tesla Inc (NASDAQ: TSLA).

Here's the rundown on the trades.

• ARK bought 187,078 shares of Coinbase.
• That amounts to nearly $64 million at the day’s closing price of $342.
• The funds went into the flagship ARK Innovation ETF (NYSE: ARKK), as well as into the ARK Next Generation Internet ETF (NYSE: ARKW) and the Ark Fintech Innovation ETF (NYSE: ARKF).
• Ark bought almost 1 million shares of Coinbase earlier in the week.Ark sold off 134,541 shares of Tesla — worth $99.5 million at Friday's close.
• The Tesla shares came out of the ARK Innovation fund and the Next Generation Internet ETF.
• The trades follow a pattern Ark set earlier in the week on these two stocks.

Image: Courtesy of Coinbase