The Cathie Wood-Led Ark Invest bought more than 160,000 Shapto Bullish Crypto Exchange Sharing in the latest scoop of crypto-related stocks.
In a File On Tuesday, the company announced that it had bought about $ 8.21 million worth of bullish shares throughout its two funds, the Ark Innovation ETF (Arkk) and the Ark Next Generation Internet ETF (ARKW), along with funds that bought 120,609 shares and 40,574 distributions, respectively.
The firm now holds more than $ 129 million worth of bullish stock across the Arkk, Arkw, and the Ark FinTech Innovation ETF (ARKF).
Ark has supported bullish since its debut at the New York Stock Exchange last month, when it got 2.53 million sharescosts $ 172 million at that time.
Ark’s latest purchase aims to rebuild Bullish position
The firm firm bought $ 7.5 million sharing with bullish earlier this monthand got $ 21 million worth of bullish stock On August 20.
Despite the recent purchase, the total bullish holders of all of its ETFs are currently standing in 2.52 million shares, indicating that the firm has booked some slight income and is now re -elected by the stock after it collapsed since its debut.
Bullish stock refused to post-tiPo
Bullish shares (BLSH) shone on the day of its list, while the stock touched a high intraday of $ 118, registered A gain of 218% from the IPO price of $ 37.
However, since its debut on August 13, the stock poured most of its gains and closed the trade on Tuesday flat at $ 51.36, down about 57% from all this time, According to In Google Finance.
The firm reported its income dropped 0.2% year-on-year as a quarter ending the march, while operating income dropped 270% at the same time.
Bullish is set Release The second-quarter result of this on Thursday, this is the first since its debut.
The analysts are mixed with the exchange, with some neutral, while others are optimistic that it can exceed.
Related: Crypto Biz: Ipo fever, ether wars and stablecoin showdowns
Last week, Jefferies started a “hold” bullish rating, while JP Morgan and Bernstein appointed a “neutral” rating, According to In Yahoo Finance.
Conversely, Cantor Fitzgerald has a “overweight” rating, which means that bullish will be released.
Ark has accumulated other crypto-related stocks in recent months.
It gained $ 4.4 million in Bitmine on September 9, which increased its total clamp on 6.7 Million Bitmine shares worth $ 284 million.
The firm also bought a sharing Jack Dorsey supported by the Financial Services Company Block, and held $ 193 million worth of block shares On August 12.
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