Ark Invest buys combined $4.4 million in Bullish shares as stock rebounds from five-day drop

Cathie Wood-led investment firm Ark Invest purchased a combined $4.4 million in Bullish shares across three of its exchange-traded funds so far this week, as the stock dipped over the past five trading days before rebounding slightly on Tuesday.

According to Ark's daily trading statements, the firm bought 52,308 shares in Bullish on Monday and 69,712 shares on Tuesday for its Innovation (ARKK), Next Generation Internet (ARKW), and Blockchain and Fintech Innovation (ARKF) ETFs.

The combined purchases were worth about $4.4 million based on the stock's closing prices on each day.

Bullish shares have fallen 15.4% over the past five days, though the stock rebounded 1.88% to close at $36.23 on Tuesday. Despite the modest recovery, the stock remains down 16.7% over the past month.

Ark actively adjusts its ETF holdings so that no single stock exceeds 10% of a fund's portfolio. This means Ark would rebalance weightings when the value of certain assets fluctuates significantly.