Cathie Wood's Ark bought more Block stock, worth more than $4 million

Markets • March 18, 2023, 6:30AM EDT

Quick Take

Ark added 58,922 Block shares across two funds on Friday.
The purchases were worth about $4.3 million.

Cathie Wood’s Ark Investment Management bought more Block (SQ) shares on Friday.

Ark’s flagship exchange traded fund, Ark Innovation ETF (ARKK), purchased 50,858 shares in Block, according to an update from the fund manager’s trading desk on Friday.

Its Ark Next Generation Internet ETF (ARKW) bought 8,064 shares. Together, the purchases were worth around $4.3 million, based on the stock’s closing price of about $74 on Friday.

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Friday’s purchases marked the fourth day in the past week. The asset manager added Block stock worth about $29 million in the previous three purchases of the week.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.