Ark Invest bought additional shares in Block Inc.
(XYZ) as the stock dipped 6% on Thursday.
The investment firm's latest disclosure shows that it added 267,676 shares of the bitcoin-focused fintech company across Ark Innovation ETF (ARKK), Ark Next Generation Internet ETF (ARKW), and Ark Blockchain & Fintech Innovation ETF (ARKF).
Block's stock fell 6.15% on Thursday to close at $79 — meaning that Ark's latest purchase of the firm's shares is valued at $21 million.
The company's investment strategy does not allow an individual holding to exceed 10% of a fund's portfolio to maintain diversification within its ETFs.
