Katie Wood Foundation Continues to Buy Robinhood Stock

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ARK Next Generation Internet ETF (ARKW) traded on the stock exchange, part of the ARK Invest group, bought 158,350 shares of HOOD. This is reported in the financial report of the fund. The stock purchase took place on the same day Robinhood announced a 7 million user data leak. Presumably, the amount of shares was ~ $ 5.9 million.

Source: ark-funds.com

In the ARKW list, Robinhood shares ranked 17th and account for 1.85% of the fund’s total capital. In total, the fund holds $ 102.8 million in HOOD shares. The last purchase of shares differs significantly from previous investments of other ARK Invest funds in Robinhood. Recall that a couple of days before the financial statements of Robinhood, Katie Wood’s ARK Innovation ETF (ARKK) bought more than 500,000 shares of HOOD.

However, the rate did not work in favor of the fund, since the financial indicators of Robinhood in terms of income from trading with cryptocurrencies turned out to be significantly lower than expected. The negative reporting immediately affected the fall of HOOD shares by 10%. ARK’s rush to buy shares cost the fund at least $ 3 million.

Source: ark-funds.com

However, as it turned out, the fund was not very upset about the losses. Moreover, on the day of the publication of the Robinhood reports, the ARKK fund bought more than 914,000 HOOD shares. In November, ARK Invest funds continued to buy shares of the online broker, but on a smaller scale.

On Tuesday, November 9, Robinhood announced a leak of at least 7 million customer data. It was reported that the attacker got access to the closed part of the service through social engineering. with regard to customer support by phone.

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