Ark Invest purchased $12.2M in SpaceX shares on July 28 while selling positions in Block Inc, Bullish, and Robinhood as part of its routine ETF rebalancing activity.
Cathie Wood's Ark Invest purchased $12.2 million worth of SpaceX shares (SPCX) on July 28 while reducing its positions in three other companies on the same day. The moves were disclosed in the firm's daily trading report.
Ark bought 105,108 SpaceX shares spread across multiple exchange-traded funds. SpaceX stock closed at $116.41 that day, up 2.56%, though the stock has fallen 29% over the past month.
Ark Adds Smaller Positions Alongside SpaceX
Alongside the SpaceX purchase, Ark also added $289,167 worth of Bitmine shares and approximately $32,667 worth of the 3iQ Solana (SOL) Staking ETF. Both were minor additions compared to the SpaceX buy.
On the sell side, Ark offloaded $4 million worth of Robinhood shares, $2.3 million worth of Block Inc, and $1.6 million worth of Bullish. Robinhood fell 3% to close at $92.76 on the day. Block Inc finished the session up 2.29% at $83.10, while Bullish slipped 0.48% to $22.69.
Related Article: Ark Invest Buys $14M in Circle Shares, Cuts Robinhood Position
Portfolio Rebalancing Drives Daily Trades
Ark regularly adjusts its ETF holdings to prevent any single stock from exceeding 10% of a given fund's portfolio. When asset values shift significantly, the firm rebalances weightings across its funds, which accounts for the frequency of its daily buy and sell disclosures.
The firm did not provide specific commentary on any of the individual trades made on July 28.
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